Australia's new clean energy generation increases five-fold

It's still on track to meet its energy target by 2020.

The Australian Financian Review reported that the country is on track to meet its 2020 Renewable Energy Target with a five-fold increase in the amount of new clean energy generation in the National Electricity Market last year, according to the latest report from the Clean Energy Regulator.

Amid on-going industry concerns about the uncertainty of the Turnbull government's climate change policies after 2020, the CER report found Australia recorded its biggest ever year in terms of renewable energy investment in 2016.

This comes as a separate Clean Energy Council report, which will also be released on Wednesday, will say the strong investment environment has continued into 2017 with more than $3 billion locked in during the first three months of the year.

View the full report here.