CEFC helps unlock energy productivity potential in Darling Downs and surrounds

28 April 2015

The Clean Energy Finance Corporation (CEFC) has met with Darling Downs business and community leaders to explore means of cutting energy costs and unlocking energy productivity gains using finance for energy efficient equipment and renewable energy technologies.

CEFC CEO Oliver Yates said the CEFC had a strong Queensland investment pipeline of potential projects worth almost $3 billion across the agricultural, forestry and fishing, commercial property, manufacturing and industry and utilities sectors.

"From our work with businesses across Australia, it's clear that investment in more efficient equipment and processes helps lower energy costs and increase productivity," he said. 

"We've experienced strong interest from the Darling Downs and will be meeting  the opportunities that our finance can support in energy efficient and renewable energy technologies."

The CEFC is already working with Pittsworth business Darling Downs Fresh Eggs, providing finance towards the installation of a bioenergy plant that converts organic waste into energy.

The CEFC is working with Commonwealth Bank to finance Energy Efficient Loans for business looking to save on energy costs and improve productivity through new energy efficient plant and equipment, solar PV, other onsite generation installations and new purpose built plant and equipment.

Mr Yates met with Darling Downs and Surat Basin industry leaders and businesses ahead of a networking seminar co-hosted by the CEFC and the Commonwealth Bank in Toowoomba on Wednesday, 29 April.

At the seminar, CommSec Chief Economist Craig James and energy specialists from Energetics, MINUS40 and Infinity Power discussed case studies on successful projects and explored how Toowoomba organisations might also benefit.

Using the Energy Efficient Loan:

• Helidon-based plastics manufacturer Global Roto-Moulding invested in an upgrade of its moulding ovens and expects to almost halve the oven energy use at its operations in Queensland and Victoria.
• Victorian apple and pear supplier Radevski Coolstores has installed a fruit grader and the upgrade of refrigeration designed to cut its overall energy costs by a quarter.
• Leading Sydney car dealership Col Crawford Lifestyle Cars is expecting to halve its electricity use through LED lighting and solar installations.

About the Energy Efficient Loan Program

The CEFC and Commonwealth Bank are co-financing loans designed for businesses to save on their energy costs under the Energy Efficient Loan (EEL) program.

The EEL is available Australia-wide as a cost-effective financing solution to help businesses upgrade equipment to reduce their energy costs while preserving precious working capital. 

More information about the Energy Efficient Loan program is available from local Commonwealth Bank representatives, or by phoning 1800 277 387.