The CEFC invests in a range of cleaner power solutions which
can help reduce Australia's emissions, improve energy efficiency
and lower operating costs. This includes large and small-scale
solar, grid and storage, wind and bioenergy.
The CEFC has made substantial commitments to accelerate the
development of several large-scale solar projects, and to take
advantage of Australia's natural advantage in solar:
- Our $20 million investment in the
Ross River Solar Farm near Townsville is the CEFC's first
equity stake in a solar farm, sending an important signal to
institutional investors about the commercial potential of
greenfield clean energy developments. When completed in 2018, the
$225 million Ross River Solar Farm is expected to generate enough
energy to power the equivalent of 65,000 homes.
- Regional New South Wales will benefit from a $150 million
investment commitment from the CEFC, to accelerate the construction
of three major solar projects with a total value of $230 million.
The three large-scale solar farms will be built in
Dubbo, Parkes and Griffith. They are the first projects to
receive debt finance under the CEFC's large-scale solar financing
program and, together, represent the CEFC's most substantial
commitment to large-scale solar to date.
- Genex Power Ltd has secured $54 million in CEFC debt finance
for the development of the Phase One 50MW large-scale solar farm at
Kidston Renewable Energy Hub, near Townsville. The solar farm
is expected to lead to the Phase Two development of a pumped hydro
storage project on the same site.
- Central Queensland's
Barcaldine Solar Farm began generating and feeding power into
the grid in December 2016, within just a year of the CEFC
announcing its $20 million finance commitment. The projecct was a
fast build, demonstrating how knowledge and expertise developed for
Australian conditions is benefiting the entire solar sector.
- The CEFC also provided finance for the
Moree Solar Farm, in an innovative transaction which was named
IJ Global's 2014 Asia Pacific
Solar Transaction of the Year.
- Read more about our large-scale solar program, and our
commitment to support the accelerate development of large-scale
pumped hydro storage.
- The CEFC is committing a total of $31.5 million to
Canadian Solar's 15MW Longreach Solar Farm in Central Queensland
and 25MW Oakey Solar Farm on Queensland's Darling
Storage and grid-scale batteries are an essential part of a
strong electricity system - with large-scale storage enabling
higher volumes of clean energy to be incorporated into the grid, as
part of Australia's modern electricity system of the future.
The CEFC sees large-scale storage
and flexible capacity projects as essential to provide flexibility,
accommodate variable and distributed energy generation and allow
for improved management of electricity networks.
Large-scale storage can help balance
electricity supply with demand by allowing energy produced from
intermittent sources such as solar and wind to be stored and
dispatched as needed. This can make the electricity grid more
efficient and reduce rising cost pressures. It can also provide
some critical elements of grid stability.
The CEFC is providing $54 million to
Phase One of the 50MW large-scale solar farm at the Kidston Renewable Energy
Hub, 270km north west of Townsville. The solar farm is
expected to lead to the Phase Two development of a pumped hydro
storage project on the same site.
The CEFC is also working with the South Australian
Government to develop a financing package to support the
accelerated delivery of Australia's largest grid-scale battery
storage project, a 100MW facility for the South Australian energy
In addition, the CEFC and ARENA are
working together to accelerate the development of large-scale energy storage
In the first phase, ARENA and the
CEFC will accelerate a number of large-scale energy storage
demonstration projects already in their pipeline. ARENA will also
seek further expressions of interest under its Advancing Renewables
Program, setting aside around $20 million for successful
In the second phase, experience
gained from the demonstration projects will help design a
competitive funding round for large-scale energy storage, modelled
on the successful parallel large-scale solar financing programs
announced by the CEFC and ARENA in 2015.
Eligible projects are those which
provide flexible capacity to the system such as battery storage,
pumped hydro, concentrated solar thermal, biomass and demand
The CEFC will also consider finance
solutions for other projects not seeking ARENA funding.
Submit a proposal for CEFC
Generating electricity through wind
Wind is an important part of Australia's clean energy
transition, and is forecast to make a substantial contribution to
the Renewable Energy Target. The CEFC is working with a range
of wind projects which are capitalising on the natural strengths of
regional Australia, as well as delivering new income streams to
local communities. CEFC investments in the wind sector include:
- $80 million to help accelerate the development and delivery of
the $236 million 113 MW Bodangora wind farm, near Wellington in the
state's central west. Once operational, the Bodangora wind farm is
expected to produce enough energy to meet the needs of over 49,000
homes, making an important contribution to the renewable energy
capacity in New South Wales.
- $120 million as one of the co-financiers in the development of
the $588 million 270MW Sapphire Wind Farm between Glen Innes and
Inverell in northern New South Wales. The project is expected to
generate enough electricity to power 110,000 average homes, and
abate some 600,000 tonnes of carbon emissions a year.
- $8 million in debt finance to Canberra-based Windlab to
help it expand its business commercialising CSIRO-developed
innovation and continue its transition from project development to
investment and asset management
- $67 million in senior debt finance for Ararat
Wind Farm in Victoria, which will create enough
electricity to power 120,000 homes
- $70 million in debt finance for the expansion of the Portland Wind
Energy Project in Victoria, supporting Australian
manufacturing, resources and skills
- $50 million in senior debt finance for Macarthur Wind
Farm in Victoria, the largest in the southern hemisphere
with the potential to avoid 1.7 million tonnes of Australian carbon
emissions a year
- $37.5 million in senior debt finance for the Taralga Wind
Farm, in New South Wales, a boost for the local wind
Bioenergy and energy from waste
The Australian bioenergy and energy from waste market has
considerable potential. In our
Australian bioenergy and energy from waste market report, we
estimate a bioenergy investment opportunity of up to $5 billion by
2020, potentially doubling the current level of installed capacity.
state-by-state update, we highlight supportive regulatory
environments for energy from waste in several states. Our bioenergy