ANNOUNCED AS TEMPORARYNo
On 27 July 2018, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 56 million (circa USD 41.5 million) to the French producer of renewable energy NEOEN for the development of the Numurkah Solar Farm, located in Victoria.
The total investment is expected to reach AUS 198 million (circa USD 146.7 million) and it is expected to generate about 255,000 MWh. From this output, 60% has been contracted SIMEC ZEN Energy, a majority-owned subsidiary of the GFG Alliance which operates the Laverton steelworks which expects to cut steel-manufacturing costs by 20% to 40%.
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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