We’re fast running out of puff, energy firms warn

Some of the world’s biggest wind energy companies have warned they could soon pull out of Australia because of a lack of Federal Government support for renewable power.

Hundreds of jobs and billions of dollars worth of investment are at risk and farmers stand to lose over $19 million in landholder lease payments within the next five years if the industry stalls, the Australian Wind Energy Association says.

The warnings come at a time when Australia’s entire renewables industry is about to hit a brick wall. The Federal Government has refused to extend its mandatory renewable energy target, which has boosted investment in clean power by requiring 2 per cent of electricity to be generated from renewable sources.

SMH