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Deal struck easing U.S. corporate investments in Australia clean energy

September 23, 2022

Renew Economy:

Climate change and energy minister Chris Bowen has made a deal with his US counterpart Special Climate Envoy John Kerry overnight to allow major US corporations to invest more easily in Australian clean energy projects.

The signing commits Australia to the Clean Energy Demand Initiative (CEDI), which brings together corporations and nation-states to coordinate investment in clean energy. The initiative is partially a platform for companies to signal interest to countries welcoming investment in renewable energy.

A CEDI Letter of Intent was signed between the US and Australian governments, as well as nine corporations – Akamai, Amazon, Cisco, Google, Iron Mountain, Lululemon, PepsiCo, Salesforce, and Unilever.

According to a media statement, these companies could invest up to $2.9 billion to increase renewable deployment, a figure Bowen’s office told RenewEconomy was based on “aggregated data compiled from projections provided by the US companies.”

[Anna Pradhan]

More: Bowen inks deal to bring big corporate bucks to Australian renewables

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