Environmentalists welcome reversal of ban on wind investment

The Australian Conservation Foundation says it's encouraged by a media report that the federal government has lifted a ban on investing in wind power.

Source: AAP

The Turnbull government has confirmed it has lifted the ban imposed by the Abbott government on wind power investment. 

A decree on December 3 issued to the Clean Energy Finance Corporation negated former prime minister Tony Abbott's June decree.

The previous policy banned the $10 billion green bank from investing in new wind power projects.

The move is Malcolm Turnbull's first major break from the former regime's environment policy.

The new decree sent from federal environment minister Greg Hunt's office directs the Clean Energy Finance Corporation to  focus on "offshore wind technologies". 

"This recognises that, in many circumstances, the financing requirements for mature and established clean energy technologies such as onshore wind technologies may be met from commercial financing sources," the decree stated.

The move is expected to give the multi-billion dollar wind industry a boost and inject renewed confidence into the renewable sector.

The Australian Conservation Foundation is encouraged by the news.

"Wind and solar are our future. I think our government led by this prime minister can take the right action for our future," ACF head Kelly O'Shannassy told ABC television.