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Australian government to set up new $1bn clean energy fund

23 Mar 2016

The Australian government is currently setting up a $1 billion clean energy fund with the Clean Energy Finance Corporation to lend to.

"What that is going to do is every year invest A$100 million in the smartest, most cutting edge Australian clean-energy technologies and businesses to ensure that we ... play our part in cracking the very hard problems, the challenging technical difficulties that we face in terms of reducing emissions," said Australian Prime Minister, Malcom Turnball.

The fund will be will called the Clean Energy Innovation Fund and will receive $1 billion over 10 years. The new fund will target projects which have yet to enter the research and development stage.

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