Time to restore bipartisan support for the Renewable Energy Target

The Renewable Energy Target has been under review by the Federal Government for more than a year, with investment in large-scale renewable energy collapsing by almost 90 per cent in 2014 as a result.

ACCIONA supports the Clean Energy Council’s proposed resolution to restore certainty on the Renewable Energy Target (RET). 

Managing Director of ACCIONA Energy Andrew Thomson said, “ACCIONA believes the 33,500 gigawatt hour target proposed by the Clean Energy Council represents a reasonable compromise that will finally allow multi-billion dollar renewable energy investments and jobs in rural and regional areas to be restored.”

The Renewable Energy Target has been under review by the Federal Government for more than a year, with investment in large-scale renewable energy collapsing by almost 90 per cent in 2014 as a result.  The investment freeze in Australia’s renewable energy industry has occurred at a time when leading economies around the world are moving in the opposite direction by substantially increasing their investment in renewable energy.

“With the Federal Opposition today announcing support for the industry’s compromise of a 33,500 gigawatt hour Renewable Energy Target, ACCIONA believes is it is time for the Federal Government to bring the ongoing Renewable Energy Target deadlock to a close and support a compromise that will provide a future for Australia’s renewable energy industry,” Mr Thomson said.

ACCIONA is one of the world’s largest renewable energy independent power producers, headquartered in Europe and with renewable energy assets in 16 countries around the world.

“ACCIONA urges the Federal Government to restore bipartisanship on the Renewable Energy Target and support a 33,500 gigawatt hour Renewable Energy Target that will unlock the future of renewable energy in Australia,” Mr Thomson said.