Important Role of Utility Scale Renewable Energy Recognised by Energy Ministers
Leading Australian renewable energy company, Pacific Hydro, said
it was encouraged that the Ministerial Council on Energy (MCE) had
recognised the important role of utility scale renewable energy in
Australia's transition to a cleaner energy future.
Agreeing with statements in the MCE communiqué released after
last Friday's meeting, Pacific Hydro General Manager
Australia/Pacific, Mr Lane Crockett, said he was pleased that
energy ministers had noted the importance of ensuring the design of
the expanded Renewable Energy Target (RET) facilitates investment
in utility scale renewable energy projects.
"In the absence of a price on carbon, the RET remains the
centrepiece of Australia's response to tackle rising emissions in
Australia so it is essential that the design of the scheme provides
the right conditions to secure investment", said Mr Crockett.
Pacific Hydro remains concerned about some aspects of the
current design of the RET which, in combination with additional,
overlapping state based subsidies for solar PV and solar hot water,
is undermining the market.
Despite the well intentioned efforts of state and federal
governments in Australia, Pacific Hydro is of the view that the
investment environment for utility scale renewable energy
investment in both Chile and Brazil continues to be preferable to
Australia which has resulted in Pacific Hydro progressively
deploying Australian staff to operations in these countries over
the last 12 months.
"Australia has a fantastic opportunity to progress a range
of utility scale renewable energy technologies including
solar thermal, geothermal and wind energy projects, but none of
this investment can take place until the RET market is fixed",
added Mr Crockett.
Pacific Hydro remains a strong supporter of the overall approach
of the Rudd Government to address climate change and, as part of a
major Australian clean technology delegation in Copenhagen, will be
doing all that it can to attract international investors to
Australia.
"The RET can begin the heavy lifting that will kick-start
Australia's transition to a low carbon energy future which will
make the job of an Emissions Trading Scheme easier when it is
inevitably introduced", said Mr Crockett.
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Media contacts: Andrew Richards 0409 364 484 / Emily Wood
0421 042 121