Clean Energy Finance Corporation (CEFC) provides debt and equity finance to clean energy projects in order to leverage private sector investment, facilitate a lower emissions economy and assist Australia’s transition to net zero emissions.
In August, the CEFC marked 10 years of operation and recently exceeded lifetime investment commitments of $10 billion.
Concannon commenced a five-year term on 5 October 2022 working alongside the reappointed members.
He will fill the vacancy left by the departure of Leeanne Bond, who served on the board for more than five years and brought invaluable insights thanks to her extensive engineering and corporate experience.
Minister for Finance Senator Katy Gallagher thanked Bond for her service and congratulated Concannon on his appointment.
“The CEFC has a crucial role to play supporting our clean energy future while at the same time delivering positive returns for Australian taxpayers,” she said. “I look forward to working with the Board to support the Albanese Government’s agenda to reduce emissions.”
Minister for Climate Change and Energy Chris Bowen said the CEFC had a vital role to play in helping Australia to achieve its emissions reduction targets.
“With Australia’s 43% and net zero emissions reduction targets now enshrined in legislation, this government is delivering long-term energy policies so business can invest with certainty,” he said. “As a market investor, the CEFC accelerates opportunities through investments that support clean energy projects, including renewable energy generation, energy efficiency and other low emissions technologies.”