CECF directed to shift focus to more reliable, 24/7 power
Under a new Investment Mandate, the Morrison government has instructed the Clean Energy Finance Corporation (CEFC) to support the development of a market for firming intermittent sources of renewable energy and to prioritise investments that support “more reliable, 24/7 power“.
CEFC to keep investment pace despite policy uncertainty
While it has seen a major shift in business and the financial markets with industry seizing the opportunities offered by decarbonization, the Australian government’s green bank has reported a record year of investment in 2017-18 with a total of $2.3 billion allocated for clean energy projects. The CEFC expects to stay on this investment trajectory in the year ahead, signaling potential asset recycling.
RateSetter to deliver South Australia’s Home Battery Scheme
Peer-to-peer lender RateSetter has been named the exclusive administrator of the South Australian government’s Home Battery Scheme. Based on a funding deal with the Clean Energy Finance Corporation, RateSetter will offer $100 million in loans in cases when the upfront costs of the home battery system installations are not met by the South Australia government subsidies.
SA unveils details of $100 million battery scheme, sonnen sets up production plant in Adelaide
The South Australian government will launch its Home Battery Scheme in October, which will offer South Australians subsidies of up to $6,000. In the wake of the government’s announcement, the German storage provider has revealed plans to manufacture up to 50,000 battery storage units at the former Holden site in Elizabeth, creating hundreds of jobs.
Aussie manufacturers encouraged to shift from gas to solar
Hit hard by volatile energy prices, Australian manufacturers have been advised to reduce their reliance on gas through a range of initiatives that can deliver major efficiency gains, such shifting from gas to solar.
Victoria’s 100 MW solar farm receives financial green light
Having finalized the financing agreement for the project, French renewable energy producer Neoen announced that full construction on Victoria’ Numurkah Solar Farm is ready to commence this week, with major supply contracts previously secured for the Laverton steelworks and the Melbourne tram network.
CEFC commits $35 million to smart meter technology
The Clean Energy Finance Corporation (CEFC) has completed its first smart meter technology financing, backing the expansion of intelliHUB, a joint venture between private equity investment firm Pacific Equity Partners and smart meter manufacturer Landis+Gyr.
CEFC hits 1 GW milestone, provides $207 million debt finance to Wirsol projects
After agreeing to provide debt finance to two Wirsol projects with a combined capacity of 200 MW, the Clean Energy Finance Corporation (CEFC) has achieved the milestone of having funded 1 GW of large scale solar projects. The two loans to Wirsol allow construction of the projects to get underway before PPAs have been signed.
ASC adds financial expertise, Oliver Yates joins board
Former Clean Energy Finance Corporation (CEFC) CEO Oliver Yates has joined the board of the Australian Solar and Energy Storage Council.
