Australia plans to dramatically expand its policy to lure renewable energy investment to the country, Climate and Energy Minister Chris Bowen said, as concerns grow that the government is on track to miss its 2030 green energy targets.
Officials intend to broaden the Capacity Investment Scheme to underwrite about 32 gigawatts of renewable energy projects in Australia, the government said in a statement Thursday, more than five times the 6 gigawatts which were planned under the initial pilot program.
Bowen said Australia was doing “well, but not well enough” when it came to boosting renewable energy in the country’s power grids.
