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Clean energy sector warns on RET


Source: Climate Spectator, 9 July 2014

The clean energy industry has hit back at calls for changes to the current renewable energy target, warning that $15 billion in investment could be at risk along with Australia’s profile as a low sovereign risk country, The Australian reports.

Australia’s largest infrastructure investor, IFM Investors, and Spanish firm Acciona have both said they could avoid Australia as a future investment destination should a push to alter the RET succeed.

"If governments flip-flop with policy to the extent that they drive the renewable energy sector out of this country and foreign investors away from this country, don’t expect to be able to attract them back in a hurry," Andrew Thomson, managing director of Acciona Energy in Australia, said, according to The Australian.

Similar sentiments were echoed by Brett Himbury, chief executive of IFM, who noted the long timeframe for renewable energy investments meant policy uncertainty could cripple the sector. 

The comments come amid a push from 25 lower house Coalition MPs to make changes to the current renewables scheme.