The Clean Energy Finance Corporation (CEFC) will now be able to back wind initiatives as long as they feature innovative technologies, a category that local media said will include offshore wind.

Australia’s environment minister said earlier this year that the country expects to see significant offshore development off its coasts, without giving further details.

The decision to allow the CEFC to continue supporting wind is another rowing back of the vehemently anti-renewables stand adopted by Tony Abbott, who was ousted by Turnbull as leader of the ruling Liberal Party in September.

Turnbull