25 November 2012
The Clean Energy Finance Corporation (CEFC) Board is pleased to announce the appointment of Mr Oliver Yates as the inaugural Chief Executive Officer (CEO) for the CEFC. The appointment of Mr Yates is an important milestone for the CEFC as it continues with its establishment. Mr Yates will commence this role on 26 November 2012.
Mr Yates has over 20 years of global experience in corporate advisory, financial structuring, project finance, debt structuring, equity raising and listings, with many years experience in clean energy. During his time at Macquarie Bank, he was involved in establishing new businesses and growing operations internationally, and leading the Bank's initiatives in wind, solar, biofuels, carbon credits and other renewable businesses.
Mr Yates brings a wealth of experience to the organisation and will be instrumental in preparing the CEFC to begin investing from 1 July 2013.
Mr Yates will be responsible for the day-to-day operation of the CEFC and, in cooperation with the Board, for the employment of other senior executives. The CEO, with the senior executive team, will provide support and advice to the CEFC Board and will be responsible for implementing the decisions made by the Board.
The CEFC was announced in July 2011 as part of the Government's Clean Energy Future Plan. The CEFC will be a $10 billion fund dedicated to mobilising its own and private sector capital into renewable energy, low-emissions and energy efficiency projects and technologies in Australia. It will operate with the expectation of minimal budgetary assistance and make its investment decisions, independently of the Government, based on rigorous commercial assessments.
Enquiries can be directed to the CEFC Secretariat in Treasury via email