Australia decides for US$ 10bn green energy shift after Fukushima
Post date: Jul 10, 2011 5:51:33 PM
Australia:
Biggest single investment ever made in renewable energy
TAXPAYERS will pump $10 billion (Australian Dollar) over five years into green power and clean technology.
Wind, solar and other renewable energy projects
The Clean Energy Finance Corporation
will start operating in 2013-14 with more than double the seed capital of its overseas counterpart, Britain's $4.5bn Green Investment Bank.
Nuclear excluded
And green power projects -- excluding nuclear, biofuels from native forest woodwaste, and carbon capture and storage -- will take up at least half the fund's capital, after lobbying by the Greens.
Greens deputy leader Christine Milne
said the dedicated funding represented the biggest single investment in renewable energy Australia has ever made.
20% Renewables by 2020
The renewable energy target -- to source 20 per cent of electricity from green power by 2020 -- will be maintained.
source: theaustralian.com.au
Related:
$10bn reasons for a clean, happy response
source: smh.com.au/environment/climate-change
Currency calculator:
Today : 1 Australian Dollar (AUD) = 1.1 US Dollar
Australian PM
Related: July 11, 2011
PM starts selling carbon tax to Australia
news.smh.com.au/breaking-news-national