The Clean Energy Finance Corporation has emphasised its focus on renewable energy and made scant reference in its future plans to so-called transitional technologies such as carbon capture and storage and gas which are favoured by the federal government.
CEO Ian Learmonth said in the council’s annual report that there was compelling evidence of the potential for Australia to achieve a low emissions economy, capitalising on innovative technology and investment solutions.
Learmonth said: “For the year ahead, we are focused on investing in a secure, affordable and sustainable energy system, to increase the share of renewable energy in a modernised electricity grid.
“We are also committed to backing opportunities in energy storage in batteries, virtual power plants and pumped hydro.”
Learmonth said the CEFC had contributed to the development of the federal government’s Technology Investment Roadmap which is widely considered as paving the way for CEFC investment in fossil fuel projects.
Necessary legislative amendments are now before Parliament.
However Learmonth made no mention of this
He said: “The excitement around hydrogen and recycling signals the very strong potential of these technologies to deliver a step change in emissions reduction.
“We will also accelerate efforts to drive down emissions from buildings, agribusiness and infrastructure, and continue to back the cleantech sector, where innovative startups are transforming the way we farm, drive and even receive our home deliveries.”
CEFC Chairman Steven Skala, however did say that exciting prospects for investment continue to emerge, including ‘those noted in the Australian Government Technology Investment Roadmap.
“This may also involve investment in transitional technologies that may play a critical role in supporting the energy system”
This may also involve investment in transitional technologies that may play a critical role in supporting the energy system
Picture: Ian Learmonth
Subscribe to our free @AuManufacturing newsletter here.