Australian wind farms face A$17b wipeout from political impasse

Sydney

AUSTRALIA faces a A$17 billion (S$17.9 billion) exodus of investment from its wind farm industry because of a political deadlock, threatening to deal the country a major economic blow and kill hopes of meeting a self-imposed clean energy target.

Some 44 Australian wind farm projects, about half overseas-funded, have been shelved since a new conservative government said it wanted to cut state support for the industry a year ago, with investors and operators saying they are considering either downscaling or leaving the country altogether if it succeeds.