Gas project threat to delicate ecosystem cpa.org.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cpa.org.au Daily Mail and Mail on Sunday newspapers.
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Amendments to the Northern Australia Infrastructure Facility passed Federal Parliament on Thursday.
The $5 billion federal loans scheme was criticised for years for being slow to hand money to approved projects.
The recent amendments broaden the scope of projects eligible for funding; permit NAIF to provide loans to entities other than states and territories, and determine the terms of those loans; and allow a total of $500 million of investment in equity, capped at $50 million or 50 per cent of any particular project.
As the program was due to expire at the end of this financial year, it was extended it for another five years.
Environment by Matthew Killoran
Premium Content  A $370 million green energy hub slated to create 250 jobs in regional Queensland has had its bid for funding denied by Northern Australian Minister Keith Pitt exercising rarely used veto powers, saying he was unconvinced it would lower energy prices. The move has sparked accusations the project fell victim to an ideological war on renewables . Northern Australia Minister Keith Pitt used veto powers to stop a concessional loan going to a proposed wind farm in north Queensland. Picture: NCA NewsWire/Gary Ramage It claimed the wind farm could deliver power price savings of $461 million over 30 years.
Santos fires up gas project ballinaadvocate.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ballinaadvocate.com.au Daily Mail and Mail on Sunday newspapers.