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.

greens.org.au

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

http://www.x-rates.com/calculator.html

Australian PM

Julia Gillard

Related: July 11, 2011

PM starts selling carbon tax to Australia

news.smh.com.au/breaking-news-national