Sydney site of clean energy company

NSW Premier Barry O’Farrell may not support the carbon tax but he has happily welcomed the Gillard government’s $10 billion Clean Energy Finance Corporation to Sydney.

This morning, Prime Minister Julia Gillard said that Sydney would be home to the corporation, which was first announced as part of the carbon pricing package last year.

”This is a city that can offer the benefit of financial and professional networks,” Ms Gillard said.

Sydney was also selected because of the number of universities and investment businesses in the city.

The corporation will make investments in businesses that want to commercialise clean energy technologies and help build partnerships between lenders and investors.

Ms Gillard said that the organisation would be pivotal in ”unlocking” investment and the jobs that will flow from the ”clean energy future”.

Initially, the corporation — headed up by Reserve Bank board member Jillian Broadbent — will employ about 40 people.

Mr O’Farrell opposed the carbon tax but said that he would welcome the jobs coming to his state.

”This is good news whichever way you look at it,” he told reporters at a joint press conference with Ms Gillard.

”The [carbon tax] legislation has been passed, it’s a decision by the federal government to allocate funds to this corporation, and I’m delighted the corporation and its jobs are coming to NSW.”

Legislation for the Clean Energy Finance Corporation will be introduced in the winter sitting of parliament this year.

Ms Gillard was in Sydney this morning before travelling to Wagga Wagga to visit emergency workers and community members and to take a tour of the area.

She said the federal government would keep working with state governments to help flood-affected areas.

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