IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 12 Dec 2016 | Removal date: open ended
Still in force

State loan

On 12 December 2016, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 120 million (circa USD 90 million) to CWP Renewables for the development of the Sapphire Wind Farm in northern New South Wales. 

The objective of the debt funding is to demonstrate the bankability of large renewable energy projects. The Sapphire Wind Farm is expected to generate 270MW of renewable energy.

The total cost of the project is estimated at AUD 588 million (USD 440 million), and Commonwealth Bank, Sumitomo Mitsui Banking Corporation, and EKF, Denmark's export credit agency are co-financiers of the project.

 
Clean Energy Finance Corporation 
The Clean Energy Finance Corporation is a government-funded financier created to fund clean energies. To achieve these goals, the Australian government has provided credits of AUD 2 billion each year from 1 July 2013.

The statutory text, the Clean Energy Finance Act 2012, states that only solely or mainly Australian-based investments are eligible for these resources.

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