ANNOUNCEMENT 01 Jul 2016

In July 2016, the government of Australia announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



CEFC press release
http://www.cleanenergyfinancecorp.com.au/media/releases-and-announcements/files/cefc-welcomes-creation-of-clean-energy-innovation-fund.aspx

PM press release
http://www.malcolmturnbull.com.au/media/turnbull-government-taking-strong-new-approach-to-clean-and-renewable-energ

Information Sheet
http://www.environment.gov.au/minister/hunt/2016/pubs/mr20160323-factsheet.pdf

CEFC information on funding ratio
http://www.cleanenergyfinancecorp.com.au/investments/co-financing-arrangements.aspx


Inception date: 01 Jul 2016 | Removal date: open ended

State loan

 On 23 March 2016, the Austrlian Prime Minister announced in a press conference the establishment of the Clean Energy Innovation Fund (henceforth: CEIF) worth 1 billion AUD.
The fund will be managed by the Clean Energy Finance Corporation (cf. Related Measures) and the Australian Renewable Energy Agency. The investments shall be targeted at Australian businesses working on emerging clean energy technologies.
The CEIF will become operational in July 2016.
CEFC's strategy focuses on financially supporting selected projects, in order to attract larger investments by private entities. Within its first three years of existence (2013-16), CEFC achieved a private-public funding ratio of 2.2:1.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A