Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the Indian economy, spot prices of the raw material are expected to firm up in the international market.

Australia passed laws on Thursday mandating the generation of 20 percent of its electricity from renewable energy, which could unleash up to $22 billion in investments to the sector.

The renewable energy laws set a statutory target of 9,500 gigawatt-hours (GWh) from renewable electricity sources in 2010, increasing to 45,000 GWh in 2020.

Austrian Ambassador, Dr Michael Stigelbauer on Thursday called on the Minister for Water and Power, Raja Pervez Ashraf and discussed various matters of mutual interest and possibilities of investment and technical co-operation in water and power sector.

The Australian Competition and Consumer Commission has been asked to investigate alleged "misleading and deceptive conduct" by a group of companies over public statements on the impact of a proposed carbon pollution reduction scheme.

Australia's government will spend A$4.5 billion (US$3.4 billion) in partnership with private investors to build up to eight commercial power stations testing clean coal and solar technologies, Treasurer Wayne Swan said on Tuesday.

At first glance, a new day seems to be dawning for the overshadowed solar sector in Australia, the world's sunniest continent.

The government is pushing through a carbon trading scheme that will penalize big greenhouse gas emitters; a major piece of renewables legislation is due for approval within months, setting a target of 20 percent green energy by 2020.

Australia has drafted laws that mandate the generation of 20 percent renewable energy by 2020 and the government aims to have the legislation passed within months.

The Mandatory Renewable Energy Target legislation aims to expand the target under an earlier scheme to 45,000 GWh by 2020 from 9,500 gigawatt-hours (GWh) in 2010.

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