THE AGE The board of the $5 billion Northern Australia Infrastructure Facility (NAIF), which was set up to support infrastructure investment, recommended a loan of up to $280 million for energy developer Neoen’s $380 million Kaban wind farm, located west of Cairns in the Atherton Tablelands.
Mr Pitt wrote to NAIF chief executive Chris Wade on March 29 and told him to reject Neoen’s loan. He said the wind farm would not provide firm power to the energy grid and he was not convinced it would contribute to lower energy prices.
Resources, Water and Northern Australia Minister Keith Pitt. CREDIT:DOMINIC LORRIMER
Neoen is pressing ahead without NAIF funding. The Kaban project is being supported by the Queensland government.
France-based Neoen is one of the world’s biggest developers of renewable energy projects. The company operates the Tesla Big Battery in South Australia,
So, to sum up.
1 A huge multinational clean energy company decides to invest in a wind farm in Australia supported by the Queensland government
2 The LNP Minister responsible decides not to approve funding.
3 Multinational decides to go ahead anyhow.
It’s hard to find any justification for this other than blind producers against renewable energy.
But why are we surprised about this?