This week the Australian Financial Review reported that ‘Labor opens up large green investment opportunities’.
The article says that the scene is set ‘for a massive flow of institutional capital into Australia’s power and industrial sector to achieve net-zero goals’.
- The target to increase renewable penetration to at least 80 per cent by 2030 from about 30 per cent today means the country’s total capacity of renewable energy generation will need to be tripled in just eight years.
- Initiatives such as the $20 billion grid improvement plan and the proposed $15 billion green manufacturing fund will drive our carbon-free future.
- There are several large investors looking to make “very significant” capital commitments in green hydrogen and clean manufacturing.
- There is a huge opportunity to open up industrial decarbonisation through green projects as part of the vision to turn Australia into a renewable energy superpower, where the scale of investment required would overtake the domestic power sector.