Australia reverses ban on wind farm investment under new PM

Perth

AUSTRALIA has reversed a decision banning its clean energy fund from investing in wind power projects in the first sign that energy policy will be more favourable towards renewables under new leader Malcolm Turnbull.

A new mandate to the Clean Energy Finance Corporation (CEFC) was issued this month and in a copy seen by Reuters on Sunday, it showed that the fund would be allowed to invest in wind projects as long as they incorporate "emerging and innovative" methods.