26 February 2015
The Clean Energy Finance Corporation (CEFC) is working to catalyse Australia's growth potential for thermal waste-to-energy technologies, to bring a range of benefits to the broader economy.
CEFC Chief Executive Officer Oliver Yates said on average Australians generate more than two tonnes of waste each per year and around half of that currently goes to landfill.
"Utilising non-recyclable waste for energy represents a significant renewable energy resource that can be tapped with technologies that already have a proven track record in overseas markets," Mr Yates said.
More than 800 thermal waste to energy plants operate in 40 countries, turning more than 10 per cent of the 2 billion tonnes of municipal solid waste generated globally each year into 220 TWh of electricity.
Mr Yates said the CEFC could finance projects ranging from smaller commercial build-own-operate-and-maintain facilities through to larger utility scale renewable energy projects, using a range of financing structures that meet the needs and the size and scope of the project.
"For example, we have committed $50 million in finance towards New Energy Corporation's development of a municipal waste-to-gas project that uses world-leading Australian-invented technology to convert landfill waste to a synthetic gas that can be burned to produce enough electricity to power 21,000 homes," he said.
He said projects which were most attractive to financiers could demonstrate potential for a locked in supply chain - where the interests of feedstock suppliers, bioenergy producers and customers were aligned.
The CEFC is among organisations who participated in the Clean Energy Council's inaugural Thermal Waste-to-Energy forum in Melbourne on Thursday, 26 February 2015. CEFC Executive Director Corporate & Project Finance Paul McCartney presented at the forum.