ANNOUNCEMENT 01 Feb 2017

The Australian government-funded Clean Energy Finance Corporation and the Australian Renewable Energy Agency allocated a total of AUD 166 million to electricity producer NEOEN to finance three solar farm projects in New South Wales.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Clean Energy Finance Corporation. Media. "CEFC accelerates large-scale solar construction in New South Wales with $150 million investment" Available at: https://www.cefc.com.au/media/files/cefc-accelerates-large-scale-solar-construction-in-new-south-wales-with-150-million-investment/

Inception date: 01 Feb 2017 | Removal date: open ended
Still in force

State loan

On 1 February 2017, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 150 million (circa USD 113.5 million) to NEOEN to help develop three solar farm projects in New South Wales.

The objective of the debt funding is to speed up the construction of the solar farms in Parkes, Griffith, and Dubbo which have a total estimated cost of AUD 230 million (circa USD 174 million). 

The three solar farms are expected to produce 100 MW of power when finalized.

The EPC construction of the three sites is Bouygues Construction.

Clean Energy Finance Corporation
A government founded financier created to fund clean energies which count with AUD 1 billion to invest until 2023.

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

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 01 Feb 2017 | Removal date: open ended
Still in force

Financial grant

Also on 1 February 2017, the Australian Renewable Energy Agency (ARENA) allocated AUD 16 million (USD 12 million) grant to NEOEN to support the development of three solar farms located in Parkes, Griffith, and Dubbo (New South Wales).

The total estimated cost of the three projects is AUD 230 million (circa USD 174 million), and NEOEN counts with resources from the Clean Energy Finance Corporation to support the development of the solar farms.

 
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