Green bank shouldn’t fund gas-fired power, ex-officials tell federal MPs

Green bank shouldn’t fund gas-fired power, ex-officials tell federal MPs

Former senior officers of renewable energy agencies say government’s bill would undermine Clean Energy Finance Corporation’s independence

Former leaders of Australia’s renewable energy agencies have called on MPs to reject the Morrison government’s changes to the publicly owned green bank that would explicitly allow it to fund fossil fuel projects.

Under the changes, the Clean Energy Finance Corporation (CEFC) would take responsibility for a long-promised $1bn “grid reliability fund” to underwrite new electricity generation, including fossil fuel power plants that run on gas.

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