Launceston Examiner
Wednesday 1/11/2006, Page: 2
CANBERRA - A cutting-edge Tasmanian company has been used by Labor to accuse the Federal Government of driving hundreds of millions of dollars in investment offshore because of its failure to increase Australia's Mandatory Renewable Energy Target .
But Prime Minister John Howard denies companies are pulling out of Australia because of a lack of opportunities to invest in green energy.
Labor MP Peter Garrett yesterday highlighted the case of Tasmanian wind energy company Roaring Forties, which was behind a wind farm in China opened recently by Environment Minister Ian Campbell, yet had to abandon two wind farm projects in Australia this year over the Government's refusal to increase green energy targets beyond 2 per cent.
"Isn't it the case that the Australian company Roaring Forties, involved in the Chinese renewable energy project, abandoned $550 million of projects in South Australia and Tasmania because the Government has not increased the Mandatory Renewable Energy Target?" Mr Garrett asked Mr Howard during question time.
Mr Howard said Roaring Forties could have had any number of reasons for discontinuing the wind farm projects in Australia and investing in China.
Roaring Forties specifically mentioned the low MRET when it abandoned the projects.
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