CEFC partners with Bank of Queensland to provide $100 million solar, storage, EV financing to businesses

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The Energy Efficient Finance will be made available for rooftop solar PV and solar thermal arrays; battery storage systems; full EVs and hybrids; lighting and refrigeration upgrades; and agricultural equipment.

“It’s also great to see BOQF supporting customers to finance both their solar and battery storage solutions,” said CEFC Transaction Lead Grace Tam in a statement. “This will become an increasingly important way for businesses to maximise the benefits of solar PV, while also avoiding peak charges for electricity by using more of the energy they generate on their own rooftops.”

“An increasing number of our customers are seeking clean energy alternatives, and we are pleased to be working with CEFC to make the up-front investment in sustainable solutions simpler and more affordable,” added BOQF CEO Verity Gilpin.

$1 billion small scale milestone

The announcement coincides with the CEFC passing the $1 billion milestone in terms of investments into small scale clean energy projects around Australia over the past six years. The financing was provided by the CEFC, through major bank and non-bank lenders, to businesses investing in solar, energy efficiency and e-mobility solutions.

The $1 billion in finance was provided across 11,300 projects, primarily to building owners, businesses and agricultural operations. Financing ranged from $10,000 to $5 million – with the average ticket size coming in at $125,000.

Commenting on the milestone, CEFC CEO Ian Learmonth said: “We’re making a real difference for businesses across the country, by working with leading Australian lenders to provide competitive finance for clean energy investment. These co-finance programs have proved to be efficient, effective and easy to access for borrowers, who have used them to help finance more than $1 billion in new investments in clean energy.”