…ACT wind energy auction is important..because the sector has been at a standstill for nearly 2 years. According to Bloomberg New Energy Finance, no new wind projects were financed in Australia in 2014 because of the Federal government’s attempts to nobble the renewable energy target, which helped cause an 88% slump in large scale clean energy investment, and pushed Australia down from 11th position to 39th in the world, below Myanmar and Honduras. For some international investors, ACT auction was last hope in Australia, given continuing uncertainty about RET. Contrary to federal government, which sees its future in coal, the ACT government hopes to source 90 per cent of its electricity needs from renewable energy sources by 2020.

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