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Australian windfarms face $13 billion wipeout from political impasse

2015-02-08 02:14:00| Climate Ark Climate Change & Global Warming Newsfeed

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...

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