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CEFC continues to lead transformation of investment in Australian clean energy

The Clean Energy Finance Corporation (CEFC) committed a record $837 million to new investments in the Australian clean energy sector in the 2015-16 financial year, contributing to projects with a total value of $2.5 billion.

The CEFC’s investment commitments since its inception in 2013 have now reached $2.3 billion, contributing to projects with a total value of $5.7 billion.

CEFC CEO Oliver Yates said: “The CEFC is fulfilling its leadership role in transforming clean energy investment in the Australian economy. This year we committed more funds to a greater number and more diverse range of investments than in any other year. We have also mobilised an even greater amount of private sector capital into clean energy activities. Across the economy, we are working to accelerate investment in renewable energy, increase energy efficiency in the manufacturing and transport sectors and improve energy standards in the built environment. Our investments are delivering clean energy solutions to rural and regional Australia, as well as to our cities.”

In its third year of operation, the CEFC achieved a 73% year-on-year increase in the value of new investment commitments, including a substantial increase in the number of indirect investments and new capital products, demonstrating the growing strength and breadth of the CEFC’s co-financing models.

Mr Yates added: “We are actively targeting areas of economic activity where clean energy investment can improve energy efficiency, cut carbon emissions as well as lower operating costs. The CEFC’s involvement in projects continues to attract additional private sector investment, which is critical if Australia is to achieve its emissions reduction commitments and meet the Renewable Energy Target. We are pleased with the level of private sector interest we are seeing in clean energy, but this will need to further increase in the years ahead. Australia still faces a considerable investment challenge to deliver the clean energy solutions necessary to reduce emissions.”

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