Case studies

Incentive for business, agribusiness to invest in plant, equipment

CEFC/NAB program targets small business and rural and regional Australia

A $300 million NAB-CEFC finance program provides an incentive for Australian businesses, particularly those in rural and regional Australia, to invest in new plant and equipment to cut their energy and operating costs.

The Energy Efficient Bonus is designed to help accelerate the switch to greener vehicles, as well as help businesses upgrade to high performance industrial and agricultural equipment and increase their uptake of solar.

Since its launch in 2015, the Energy Efficient Bonus program  provided finance to more than 1,000 eligible clean energy assets across Australia. In May 2017, the CEFC committed a further $180 million to the program.

The  Energy Efficient Bonus makes available loans and asset leasing for investment in high efficiency and clean energy technologies. Finance is available for both small and large scale equipment up to $5 million.

NAB is making the $300 million CEFC-supported program available across a broad commercial base, with a particular emphasis on agribusiness and regional Australia, including the Great Barrier Reef catchment area, to bring the benefits of clean energy to support the long-term health of the Reef. 

With the right equipment, businesses can lower fuel costs, cut heating, cooling and lighting bills and even create energy from waste. This asset financing agreement applies to agricultural, manufacturing and leasing operators.

NAB ENERGY EFFICIENT BONUS PROGRAM IN ACTION 

PROJECT:  GV STORAGE, GOULBURN VALLEY, VICTORIA

Action

GV Storage is a vertically integrated business in the heart of Victoria's Goulburn Valley. The second-generation farmers grow apples and pears, currently processing around 66,000 bins of fruit annually, requiring high energy consumption. The business has installed a 506kw rooftop solar system.

 

Results

  • The installed solar is generating enough power to meet more than 65 per cent of the business's energy needs, which are significant due to the large amount of power required for packing, storage and delivery.
  • The project is eligible to receive Large-Scale Generation Certificate (LGC) credits for its energy generation.

PROJECT: PARILLA PREMIUM POTATOES PTY LTD, SOUTH AUSTRALIA

Action

One of South Australia's leading potato, onion and carrot growers, Parilla Premium Potatoes produces more than 55,000 tonnes of fresh vegetables a year for local and international markets. The family-owned business upgraded crop irrigators with energy efficient variable rate centre pivots, improving the efficiency of irrigation through increased control over watering.

Results

  • Has reduced energy use by around 15 per cent
  • Has reduced water and fertiliser consumption by around 20 per cent

PROJECT: TAHBILK WINERY, CENTRAL VICTORIA

Action

Victoria's historic family-owned Tahbilk winery, established in 1860, has 200 hectares under vine and produces over 100,000 cases of wine each year, exporting to the US, UK, Canada, New Zealand, Switzerland and Scandinavia. It operates a café, eco trails, cellar door and an eco-cruise. Tahbilk has installed 100kw of solar PV. 

Results

  • Is expected to provide electricity for around 15 to 20 per cent of Tahbilk's power supply needs.
  • Provides the ability to purchase fewer carbon credit offsets to maintain the winery's carbon neutral certification status with New Zealand's carboNZero program