14 December 2018
The CEFC has welcomed publication of the independent statutory review of the Clean Energy Finance Corporation Act. The review found that the CEFC has facilitated the flows of finance into the clean energy sector, with CEFC’s investments successfully enabling projects that would not have otherwise proceeded, attracting substantial private co-investment to projects.
The statutory review was conducted by Deloitte Touche Tohmatsu and tabled in Parliament on 14 December 2018.
CEFC CEO Ian Learmonth said: “The review examines the CEFC’s activities since we began investing. It finds that we have been effective at facilitating increased flows of finance into clean energy projects across different sectors of the Australian economy. It also finds that the CEFC has been effective at leveraging private capital, leveraging between $1.80 and $2.90 in private capital for every $1 invested since its inception.”
Mr Learmonth said the CEFC was encouraged by the number of submissions considered in the review process, and the recognition of the knowledge, expertise and experience of the CEFC in building market capability with respect to financing clean energy projects.
“As we discussed in our most recent Annual Report, in the year ahead, we will sharpen our focus on the emissions impact of our investments – from the direct carbon reductions of projects we finance, to the indirect demonstration benefits of the projects and companies we invest in, and our increasing focus on biocarbon," Mr Learmonth said.
"While the pace of the clean energy transition varies from year to year, our investment pipeline is robust. We look forward to expanding our work alongside market leading businesses, entrepreneurs and developers for the benefit of the Australian community.”