CEFC focused on helping accelerate Australia’s move to a low carbon economy

16 July 2013

The CEFC will continue its focus on working with business and the financial sector to deliver its mission of assisting the move to a more competitive clean energy economy.

The CEFC Chair, Jillian Broadbent AO said today that the CEFC was now fully established and already providing financing for businesses across Australia looking to invest in clean energy and improve their energy productivity.

Oliver Yates, CEFC CEO said he was delighted by the highly positive response the CEFC had received from the market and that the organisation could provide flexible financing which was responsive to business needs.

"We are in active discussions with over 50 project proponents, which would involve CEFC finance of circa $2 billion and total project costs of over $4.5 billion. These potential investments span a full range of industry and economic sectors, technologies (renewable energy, energy efficiency and low emissions technologies), as well as inputs to those streams, and these are well distributed across all states and territories.

The CEFC and Commonwealth Bank have already announced a $100 million program of co-financing Energy Efficient Loans to medium sized businesses investing in equipment to reduce their energy costs through energy efficiency or small scale renewable technologies.

This CEFC and Commonwealth Bank Loan program is in addition to the integration of energy efficiency programs of Low Carbon Australia into CEFC and an investment in the construction and operation of Taralga Wind Farm in NSW. The Taralga project will use Australian engineered and sourced wind towers, providing a boost to manufacturing in regional Victoria. CEFC has also announced its $50 million participation with other financiers to refinance a stake in Macarthur Wind Farm in Victoria.

The CEFC continues to progress its work with industry examining potential new investments. "We are open to new investment proposals on a continuous basis and welcome project proponents to contact us to progress their opportunity," said Mr Yates.