ABOUT 80 jobs are at risk in northern NSW's sugar belt as a $220 million clean-power project nears collapse due to problems surrounding the Rudd government's 20 per cent renewable energy target.
According to The Australian Financial Review, managers of the NSW Sugar Milling Co-operative's two co-generation plants, which burn milled sugar cane to create renewable energy, will meet with their bankers today to decide whether the development should be placed into receivership.
The project is losing money due to a slump in the price of renewable energy credits.
While wind farm operators say that means they can now commit to new projects, NSMC chief executive Chris Connors said it would be too late for his business, which lost $6 million in the second half of last year.
Nationals senator Ron Boswell said the government must save the co-generation project.
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