Australia

Sep 1, 2014

Is Dick Warburton already scaring off renewable energy investors?

A Californian algae producer has mysteriously abandoned its $300 million Pilbara project, writes freelance journalist Kerry Faulkner.

A Californian company that secured more than $2 million of state government funding for its environmentally friendly pilot algae farm in the Pilbara has quietly quit Australia.

4 comments

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4 thoughts on “Is Dick Warburton already scaring off renewable energy investors?

  1. Tamas Calderwood

    Kerry Faulkner opens by saying “A Californian company that secured more than $2 million of state government funding…” and continues that “In 2013, Premier Colin Barnett announced a further $10 million funding…”.

    Urgh… is there a “clean energy” company that DOESN’T have its hand in the taxpayer pocket? Shouldn’t the RET review be celebrated if it puts an end to these kind of industry boondoggles? Why does “clean energy” get a pass from Crikey when other corporate welfare is normally condemned?

  2. Matt Hardin

    $10 million was for a common user pipeline. In other words, shared infrastructure like roads, rails and ports. Given the money that has been rained down on mining, Queen Elizabeth quay and the new stadium this is all small potatoes.

  3. JennyWren

    I think there is more of an agenda to this having read Andrew Elder’s most recent blogpost: http://andrewelder.blogspot.com.au/

  4. Liamj

    “Is Dick Warburton already scaring off renewable energy investors?”
    Yes, but Aurora Algae is not the project to show this with, instead consider reports on billions of investment dollars & thousands of jobs lost from Pacific Hydro & Infinigen.. http://reneweconomy.com.au/2014/ret-cuts-will-leave-renewables-as-good-as-dead-pachydro-chief-64352

    Does algae-to-oil even qualify as an energy producer, given heavy costs in maintaining pure strains & dehydrating crop? Sure some oil can be produced but have yet to see any research showing net energy yield. Aurora probably just exhausted the grant and then shutdown, much like the co2 sequestration ‘trials’ that the coal industry milks govt for.

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