Australia OKs $10B Clean Energy Fund, But Miners Unhappy

Law360, New York (June 26, 2012, 9:34 PM EDT) -- Australia's legislature on Monday approved a new AU$10 billion ($10.1 billion) government-backed fund to finance clean energy projects, but critics in Parliament and the country's powerful mining industry threaten to kill the program before it gets off the ground next summer.

The Clean Energy Finance Corp., which will launch in July 2013, is part of a Labor government scheme to boost energy-efficient development and make up for Australia's slow start in renewable power, which has been hampered by easy access to domestic oil, gas and coal....
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