FIRB go-slow on China approvals hindering capital flows

Angela Macdonald-Smith and Ryan Cropp

Feb 10, 2025 – 8.09pm

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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.

clarification —

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.

Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables.

Ryan Cropp is an energy and climate reporter at The Australian Financial Review based in the Canberra bureau.