Australian power producers may issue $13B for projects

Australian power producers may issue as much as $13.2 billion in debt to finance new gas-fired plants and wind farms.

According to global rating agency Fitch Ratings, the government plans to tackle climate change by imposing a price on burning fossil fuels such as coal, which accounts for more than 80 per cent of power production in Australia.

According to Fitch, the rest of the forecast spending amount, about through 2016, may be funded by power generators in Australia with cash and share sales.