Federal cabinet is set to agree to a compromise deal on the renewable energy target on Thursday, paving the way for a bipartisan agreement to break the investment drought caused by a year-long political deadlock.

But long months of political haggling and the reduced quantity of renewable energy required under the compromise policy mean its biggest beneficiary is likely to be windfarms – which are bitterly opposed by some Coalition MPs and which treasurer Joe Hockey once said he found “utterly offensive”.

The RET – which currently requires 41,000 gigawatt hours of energy to be delivered from renewable sources by 2020 – has been in limbo since the government commissioned self-professed climate sceptic Dick Warburton to undertake a review in February last year.

It recommended the target be slashed, but after fierce industry and community criticism, cabinet asked the environment minister, Greg Hunt, and the industry minister, Ian Macfarlane, to try to reach a bipartisan agreement with Labor to allow continued investment without fear of policy change.

Full story & source: The Guardian