Clean Energy Investor Group joins push for FIRB overhaul
A group representing renewables investors and developers wants foreign investment rules overhauled to speed up projects.
The Clean Energy Investor Group, which represents developers and investors overseeing more than $20 billion in renewables assets, has joined the push for an overhaul of Australia's foreign investment laws.
In a submission to the Productivity Commission’s latest inquiry into economic dynamism and resilience, the CEIG argues that the existing Foreign Investment Review Board rules are restrictive and holding back investment at a time when Australia is increasingly considered a difficult place to do business.
“These restrictive rules are deterring much-needed foreign investment and delaying Australia’s clean energy transition and do not lend themselves to efficient investment,” the group said in a new submissiion
“FIRB processes can significantly delay projects, often adding several months to timelines, particularly when the review is triggered late in the development process,” it said.
