RNE 0.00% 0.2¢ renu energy limited

sector in for a needed boost

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    CANBERRA, June 23 (Reuters) - Laws to overhaul Australia's
    renewable energy sector were passed by parliament's upper house
    Senate on Wednesday in a move that should unlock billions of
    dollars worth of clean energy investments.
    The new laws, to take effect from January 1, 2011, lock in a
    target for 20 percent of electricity to come from renewable
    energy by 2020, but also splits the renewable energy scheme into
    large scale projects and a household market for renewable energy.

    The laws, which will now be rubber-stamped by parliament's
    lower house, give new certainty to up to $19 billion worth of
    planned large-scale projects to build wind farms, solar power
    stations and other clean energy generation in Australia.

 
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