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CEFC CEO looking to Port Hedland energy productivity investment opportunities

2 March 2015

Clean Energy Finance Corporation (CEFC) CEO Oliver Yates has met with Port Hedland and regional 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 committed up to $50 million investment in Port Hedland in finance towards New Energy Corporation's development of a waste-to-gas project at Boodarie Industrial Estate which will convert landfill waste into a synthetic gas that can be burned to produce electricity.

"We are looking to invest in projects which can accelerate take-up of renewable and energy efficient plant and equipment, large and small, and have the capacity to provide finance tailored to project requirements. From solar to street lighting, onsite generation and storage to new energy efficient equipment, we can help businesses implement it and start benefiting sooner," he said.

"We're here to help accelerate Australia towards a cleaner, more competitive energy efficient economy, and that means investing in technologies that have long-term benefits for regional communities.

"Whether you're from the resources sector, a local business or a local council, we have innovative finance that could kick start your adoption of solar PV to supplement your energy supply.

"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 transportation to reduce energy use or harnessing waste material to produce power."

Mr Yates is visiting Port Hedland on 3 March for a seminar co-hosted by the CEFC and Commonwealth Bank meeting with local businesses looking to cut energy costs.

CommSec economist Savanth Sebastian will provide the Australian economic outlook, with energy specialists from Energetics, MINUS40 and EMC (Energy Made Clean) presenting case studies demonstrating previous successful projects.

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.

More information about the Energy Efficient Loan program is available from local Commonwealth Bank representatives or CommBank's Product Partner Manager - Asset Finance David Wilson on +61 2 9151 8366.

Media release, 2015

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