Printed Chinese and Australian flags on July 21, 2022. Reuters/Dado RuvicPacific Blue, a renewable energy company backed by Chinese state-owned firm State Power Investment Corporation (SPIC), is one of a number of entities slated to receive federal government financial support as part of the Capacity Investment Scheme (CIS), aimed at supporting Australia’s transition to renewables.SPIC is one of China’s five major power generation companies, and has links to the Belt and Road Initiative—the Chinese Communist Party’s global infrastructure and investment strategy.
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