Australian Government Boosts Grids with Investment

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A funding injection of $1 billion to the Clean Energy Finance Corporation (CEFC) by the Federal Government can accelerate investment in the electricity transmission network and prepare the energy system for the shift from coal to renewable energy, the Clean Energy Council said today.

Clean Energy Chief Executive Kane Thornton said Australia’s power grid was designed for the last century and it is becoming increasingly obvious that major investment and reform are needed. “We know that new poles and wires are essential to the development of a modern electricity system. The Grid Reliability Fund is the first increase in capital since the CEFC was established, and can leverage significant private investment into one of the areas of greatest need,” Mr... ... More: Official Press Release Clean Energy Council

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