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Tue May 30, 2017, 11:00 PM

Australia to invest clean energy funds in Coal

The Turnbull government will enshrine its belief in coal as an ongoing source of power generation by introducing legislation to enable the Clean Energy Finance Corporation to invest in carbon capture and storage.

The CEFC is a $10 billion taxpayer-funded loan facility established by Labor to invest in the development of renewable and clean energy sources.

Months after first flagging the move, Energy Minister Josh Frydenberg has announced the government will legislate to expand the CEFC's mandate so it can invest in carbon capture and storage technology which, if ever successfully developed, will enable emissions from coal-fired power stations to be kept out of the atmosphere. The CEFC will not be investing in other so-called clean coal technology such as the construction of a High Efficiency Low Emissions (HELE) power station

Read more: http://www.afr.com/news/cefc-to-be-used-for-coal-josh-frydenberg-20170529-gwfy9q#ixzz4icahTTnL
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