Apple, Google to splurge billions
APPLE, Google and Amazon could plough billions of dollars into Australia’s renewable energy revolution as a result of a new deal between the American and Australian governments.
Energy Minister Chris Bowen signed off on the new clean energy demand initiative on Friday in Pittsburgh with US special presidential climate envoy John Kerry, who welcomed Australia’s renewed climate leadership.
The agreement is designed to break down barriers for US companies wanting to invest in Australia, with the Albanese government hoping as much as $2.9bn could be splurged to help reach its 2030 target for renewables to provide 82 per cent of the nation’s power.
“By setting up a favourable market environment for investment, we are signalling to US companies that we welcome international partners to support our clean energy future,” Mr Bowen said.
“The initiative also sends a signal to the world that Australia is open for business as a reliable investment as the world heads towards net zero emissions by 2050.”
Mr Bowen and Mr Kerry met at the Global Clean Energy Action Forum, where Fortescue boss Andrew Forrest also revealed he had struck a new $80m partnership with the US Energy Department’s National Renewable Energy Laboratory.
“NREL’s dream is to have its green technology commercialised. Our dream is to commercialise their green technology,” Mr Forrest said.
Mr Bowen talked up the global “climate emergency” as “Australia’s jobs opportunity”.
But the Fortescue Future Industries deal means 350 research and engineering jobs will now be created in the US.