Australian windfarms face $13 billion wipeout from political impasse
By Byron Kaye SYDNEY (Reuters) – Australia faces a A$17 billion ($13.3 billion) exodus of investment from its windfarm industry because of a political deadlock, threatening to deal the country a major economic blow and kill hopes of meeting a self-imposed clean energy target. Some 44 Australian windfarm projects, about half overseas-funded, have been shelved since a new conservative government said it wanted to cut state support for the industry a year ago, with investors and operators saying they are considering either downscaling or leaving the country altogether if it succeeds. The parent company will provide us with the strategy." A Gas Natural spokesperson said the firm had an "attractive backlog" in Australia but "we are waiting for the whole development of the new framework for renewable energy and hope our presence … in the country can be maintained". Wind power in Australia is not the only renewable energy sector to be affected by uncertainty over government subsidies or actual cuts.
