nha noted that the bill extends the production tax credit and funds the clean renewable energy bonds programme as part of the financial sector stabilisation package totalling US$700B.

The Association added that the provisions for renewables in the legislation would ensure that hydro power and new water power energy resources continue to have economic momentum.

The Government now plans to assign a US$250M share of the total package to capitalising – or buying stakes in – key banks to help avoid further major weakness in the financial system.