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Sky News July 12, 2015 Australia

Australian Govt won't fund new wind investment

Part of the understanding reached with the crossbenchers was that this clean energy corporation would focus, as is it's mandate, on new emerging technologies in the renewable energy space, not on mature technologies like wind,” Trade Minister Andrew Robb said.

Sky News - July 12, 2015 Video also available on our YouTube channel

Trade Minister Andrew Robb has told Sky News the government won't fund investment in established wind power through the Clean Energy Finance Corporation, but denied there is any rift among ministers over the decision.

The senior cabinet minister was responding to a report in Fairfax media that the government has ordered the $10 billion CEFC not to make any new investments in wind power projects, saying the decision was taken without approval from Environment Minister Greg Hunt.

Mr Robb said part of the deal over the renewal energy target reached with the crossbenchers was that the CEFC would focus on new emerging technologies and not on mature technology like wind, but added that suggestions there was a rift over this was a 'total beat up'.

'Part of the understanding reached with the crossbenchers was that this clean energy corporation would focus, as is it's mandate, on new emerging technologies in the renewable energy space, not on mature technologies like wind,' Mr Robb told Sky News.

Labor said the decision would stifle billions of dollars in investment and the creation of new jobs in the sector.

'(Prime Minister) Tony Abbott never looks forward, he is always looking backwards,' opposition frontbencher Joel Fitzgibbon told ABC TV on Sunday.