Almost a quarter of the wind, solar and battery projects supported by Labor’s flagship policy to boost green energy supply have withdrawn from the scheme, casting doubt over whether enough new renewables will be built in time to replace ageing coal plants.
The Capacity Investment Scheme provides guaranteed revenues to new wind, solar and battery projects to incentivise their construction, but has struggled to get shovels in the ground amid spiralling costs and low market prices.
Gift articles to anyone you choose each month when you subscribe.
