FIRB go-slow on China approvals hindering capital flows
Industry figures fear wariness at the Foreign Investment Review Board about Chinese-linked investment is hindering the flow of capital needed to advance Australia’s energy transition, slowing progress on new wind and solar farms and stalling acquisitions.
A $813 million deal by a unit of energy major BP to sell five solar farms to Beijing Energy International Holding is close to collapse as the buyer seeks to secure foreign investment approval.
An earlier version of the article said a deal for Alinta to buy Tetris Energy had fallen through, however, a spokeswoman for Alinta said the transaction may still proceed.
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