ANNOUNCEMENT 24 Jan 2018

The Australian government-funded Clean Energy Finance Corporation allocated AUD 30 million in debt finance to electricity producer NEOEN to finance a solar farm in New South Wales.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Clean Energy Finance Corporation. Media. "CEFC finance for largest solar farm in NSW expands regional solar belt." Available at: https://www.cefc.com.au/media/files/cefc-finance-for-largest-solar-farm-in-nsw-expands-regional-solar-belt.aspx

Inception date: 24 Jan 2018 | Removal date: open ended
Still in force

State loan

On 24 January 2018, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 30 million (USD 24 million) to NEOEN to help develop a solar farm project in Coleambally, New South Wales. 

The objective of the debt funding is to speed up the construction of the solar farm which will consist of about 565,000 solar panels which will be able to power 50,000 homes.

In addition to the loan provided by CEFC, the Coleambally solar farm has received economic support from financiers such as NORD/LB and KfW Ipex.

The newly approved resources sum up to a previous credit of AUD 150 million provided to NEOEN by CEFC to finance the development of another three solar farms in New South Wales.

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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