https://reneweconomy.com.au/investors-scrap-pioneering-green-hydrogen-plant-in-germany-because-of-costs/ well, not wind but Orsted who aborted a wind farm project in the USA and is starting one here in Gippsland. Ill try find the article. Our Australian govt have announced a ramping up of renewable projects despite the country being broke .The fed government also announced the taxpayers Wi be expected to support the renewable energy providers when they cant meet their profit margins and energy prices drop. . We are at 35 pc of energy coming from renewables today and the environment minister wants 82pc of renewables to feed the grid by 2028. AND the Australian taxpayer will be expected to underwrite any company making the investment if energy costs go below a determined amount. REALLY. Are other countries getting this wacky. . With federal minister Chris Bowen also announcing just today we need to have renewable energy up and running BEFORE decommissioning fossil fuel power stations. Bloody genius. I think the Gippsland 2GW wind turbines being an Orsted project will get to completion. It cant lose now as the taxpayer will foot their losses. Are other countries following the Australian model. Lord help them. I HOPE Lynas is supplying RE for these turbines. I'll need the money to pay the taxes on them.
LYC Price at posting:
$6.70 Sentiment: Hold Disclosure: Held
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