Government may fund a dud coal mining expansion

The Federal government has established the Northern Australia Infrastructure Facility. It is a $5 billion loan scheme “targeted at projects likely to generate returns not sufficient to attract full commercial funding”.  … Some call it the Dirty Energy Finance Corporation. … A spokesman for Treasurer Hockey is already on the record as saying Galilee Basin coal projects could qualify for funding. … You would be hard-pressed to find a more insolvent-looking set of financial statements than Adani statements.  …

The Clean Energy Finance Corporation (CEFC) now finances $3 billion of renewable infrastructure projects. It made a profit of $25 million for the Commonwealth last year.  The Federal government has been trying to kill the CEFC.

(The Age: Michael West: 6/6/2015)

Key Words: OzPolitics

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