A report stated that the Clean Energy Finance Corp (CEFC) has made $4.3 billion investment pledges in projects with a total value of $11 billion in its first four years. This is a good indication that companies and investors’ willingness to acquire clean energy assets grow stronger over the years.
According to its website, the CEFC “invests, applying commercial rigour, to increase the flow of finance into the clean energy sector.” It invests in organisations and projects by utilising clean energy technologies and manufacturing companies that concentrate on providing the required inputs.
For years 2016 to 2017, CEFC projects included an extra $300 million in asset finance facilities for business, agribusiness, and manufacturing. Presently, these facilities have brought over 2,000 investments in energy efficiency materials and vehicle with low emissions across Australia.
CEFC CEO Ian Learmonth stated, “Australia’s clean energy sector is coming of age, with investment activity increasingly stretching across the economy. Working alongside co-investors and developers, CEFC finance is helping tackle some of Australia’s toughest emissions challenges, while delivering business benefits through lower energy consumption.”
In a published statement, CEFC enumerates its investment commitment in 2016 to 2017 and includes the following:
- Additional financing for St. George Community Housing (SGCH) for building 500 new energy-efficient homes for families with low income.
- Increased asset finance for over 2,000 smaller-scale energy efficiency programs.
- Investing in Australia’s lithium resources in order to take advantage of the growing energy storage market for grid-scale batteries and electric vehicles.
- Helping Australian companies that lead a new clean energy economy. The Clean Energy Innovation Fund pledges $30 million for four investments in its first year of operation.
- Boosting the growth of a more diverse and flexible green bond market in Australia.
“Australia’s energy transition is undergoing considerable scrutiny, reflecting the scale of the challenge and the scope of the opportunity. As discussed in the recent Finkel report, Australia needs a resilient, balanced and secure electricity system, which includes large-scale renewable energy, energy storage, and other initiatives,” Learmonth added.