Climate shift to wind energy

Adelaide Advertiser
Wednesday 20/9/2006, Page: 40

WIND energy has become a key target for large investors because climate change has become a major factor in business planning, an international wind conference has heard.

Global Windpower, which is being held in Adelaide this week, was told yesterday banks and superannuation funds were leading the charge to invest while the global market was hot. Australian Wind Energy Association chief executive Dominique La Fontaine said as awareness of climate change grows, the business community was looking for investments which promise an advantage in a "carbon constrained" economy.

"The world is embracing wind energy because it is clean, efficient, safe and cost-effective," she said. "Last year alone, over $18 billion was invested in new wind energy production."

Industry Funds Management chairman Garry Weaven said the organisation invested in Pacific Hydro because of wind energy's global, rather than local, potential. "A lot of opportunities are arising from the need to reverse carbon emissions and tackle the world's climate change," he said.