Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Northern Australian Infrastructure Facility will not provide financial assistance to the 157 megawatts Kaban Green Power Hub. The project is being developed by Neoen near Ravenshoe in Far North Queensland.
Keith Pitt, Minister for Resources, has stopped the AUD280 million (US$218 million) loan that the project developer sought to fund the construction of a wind farm. The given reason for this decision is that the project will not provide new reliable dispatchable and firm generation capacity to the National Electricity Market.
The Kaban project has a power purchase agreement with Queensland government-owned CleanCo to support the state's target of 50 percent renewable electricity by 2030.
