ANNOUNCEMENT 26 Jun 2018
The Australian government-funded Clean Energy Finance Corporation allocated AUD 50 million to New Energy Solar for the establishment of a new acquisition facility.
NUMBER OF INTERVENTIONS
Clean Energy Finance Corporation. Media. "New Energy Solar to acquire Manildra Solar Project in NSW" of 26 June 2018: https://www.cefc.com.au/media/files/new-energy-solar-to-acquire-manildra-solar-project-in-nsw/
Australian Government. Department of Industry, Innovation and Science. Australian Industry Participation. Available at: https://industry.gov.au/industry/IndustryInitiatives/AustralianIndustryParticipation/Pages/default.aspx
On 26 June 2018, the Clean Energy Finance Corporation (CEFC) of Australia announced an agreement with New Energy Solar for the establishment of a new acquisition facility worth AUD 50 million (USD 37 million). The objective of these resources is to boost further private investment in the Australian renewable energy sector.
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.
The Clean Energy Finance Corporation financing is subject to the Australian Industry Participation (AIP) policy. This framework states that all programs enclosed in this policy must encourage the participation of Australian companies in major public and private projects carried in the country. In this sense, companies applying for a CEFC credit line must provide an AIP Plan to demonstrate the strategy to maximize opportunities for Australian industry to participate in the project. Therefore, it must be understood that the AUD 50 million (USD 37 million) credit line allocated to New Energy Solar, includes some provisions related to local content requirements.