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Turnbull’s renewable fund could drive much-needed investment, but…

The Grattan Institute’s Tony Wood writes in The Conversation (23.3.16) about the implications of the federal government’s announcement that it will create a new renewable energy investment fund.

‘Prime Minister Malcolm Turnbull has announced the creation of a A$1 billion Clean Energy Innovation Fund, to be jointly managed by the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA).

‘ARENA is designed to research and develop new clean energy technologies, while the CEFCis meant to finance projects and earn a return on investment. Both were created under the previous Labor government.

‘ARENA has enjoyed consistent bipartisan support (although it had some future funding cancelled under the previous budget), while the the current coalition government has always previously vowed to axe the CEFC.

‘So what could the new fund mean for the renewables sector?’

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