Clean Energy Council pushes for CEFC establishment

The Clean Energy Council has called on the Australian Parliament to establish the Clean Energy Finance Corporation (CEFC) “as soon as possible”. The peak body for Australia’s renewable energy industry urged the government to pass laws establishing the $10 billion CEFC so new clean energy technologies can access support.

Clean Energy Council Acting Chief Executive Kane Thornton said CEFC funding will enable clean energy technologies to bridge the gap between early research and development and commercial rollout.

“Known in some circles as the ‘valley of death’, this gap has been the major hurdle in the development of local clean energy innovation. The CEFC will play a vital role in providing loans to new clean energy projects to help them overcome it,” said Thornton.

“We urge the Australian Parliament to proceed quickly with establishing the CEFC through this legislation so new clean energy technologies get the leg-up they need.”

A Deloitte study completed for the Clean Energy Council showed there is strong interest in an institution like the CEFC from major investors. “The strong message we got from the banks, super funds, venture capitalists and others was that the CEFC was well regarded and would help share some of the risk of investing in innovative new clean energy technology,” Thornton said.

“Private investors are raring to go and would welcome the certainty an institution like this would provide. The fact that it will be run independently of government by a team of experienced finance, banking and investment professionals is also a major plus.”