Prime Miniser Tony Abbott has reportedly ordered the $10 billion Clean Energy Finance Corporation not to finance new wind power projects.
According to Fairfax Media, Treasurer Joe Hockey and Finance Minister Matthias Corman have issued a directive to the so-called ‘green bank’, prohibiting new wind power funding.
Environment Minister Greg Hunt was reportedly angered at being left out of the decision making process.
The corporation, set up by the former Gillard government, seeks to make investments in different types of renewable energy.
The government has twice failed to abolish the corporation in the Senate.