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CEFC CEO looking to Darwin energy productivity investment opportunities

3 March 2015

Clean Energy Finance Corporation (CEFC) CEO Oliver Yates has met in Darwin with Territory business leaders about opportunities for investment in projects to cut energy costs and boost productivity.

"Energy efficiency and renewable energy can help reduce the burden of high energy costs on business and industry," Mr Yates said.

The CEFC has already invested in the Northern Territory, committing finance to the expansion of the Uterne solar farm at Alice Springs and for ET Solar's commercial scale solar PV program targeting shopping centres, business centres, airports and hospitals across Australia including the Northern Territory.

"We're looking to invest in projects that can accelerate the take-up of renewable and energy efficient plant and equipment large and small and we have the capacity to provide finance tailored to project requirements," he said.

"We see strong potential in Darwin and the Northern Territory for energy efficiency upgrades and solar," Mr Yates said.

"Whether you're a retailer or offices looking to reduce air conditioning and lighting bills, or a business with a large roof space suited to solar, we have innovative finance available that could bring you the immediate cost-saving benefits of the latest equipment and new technology.

"We're able to finance all kinds of on-site generation equipment which can provide greater reliability of existing energy supplies."

Mr Yates said the CEFC was working to accelerate Australia towards a more competitive economy in a carbon constrained world by investing in technologies that have long-term benefits for remote and regional communities as well as cities.

"There are big opportunities for improving energy productivity and lowering energy costs across the resources sector, for on-site generation, upgraded transport and haulage systems to reduce energy use or harnessing waste material to produce power."

Mr Yates will be in Darwin on 4 March to meet with businesses looking to explore ways to cut their energy costs using CEFC finance for energy efficiency and renewable technologies.

The CEFC and Commonwealth Bank will co-host an event for Darwin businesses with presenters including CommSec economist Savanth Sebastian who will provide his Australian economic outlook, and energy solutions experts from Energetics, MINUS40 and EMC (Energy Made Clean) who will be presenting case studies of successful projects which have brought substantial reduction in energy operating costs.

The $200 million Energy Efficient Loan program has already helped energy productivity boosting projects such as solar PV and other on-site generation installations to reduce reliance on grid electricity, new purpose-built plant and equipment to reduce energy use and commercial refrigeration upgrades.

About the Energy Efficient Loan Program

Under the Energy Efficient Loan (EEL) program, the CEFC and Commonwealth Bank are co-financing loans for businesses to save on their energy costs. The EEL is designed as a cost-effective financing solution to help businesses upgrade equipment to reduce their energy costs while preserving precious working capital.  The program is available nationwide for projects that meet CEFC eligibility criteria.

For more information about the Energy Efficient Loan program please contact your local Commonwealth Bank representative or CommBank's Product Partner Manager - Asset Finance David Wilson on +61 2 9151 8366.

Media release, 2015

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