ANNOUNCEMENT 21 Dec 2017

The Australian government-funded Clean Energy Finance Corporation allocated up to AUD 100 million to a real estate group to finance the creation of the Dexus Healthcare Wholesale Property Fund (HWPF).

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

Clean Energy Finance Corporation. Media. "CEFC and Dexus to deliver Australian-first clean energy makeover for healthcare sector" of 21 December 2017. Available at: https://www.cefc.com.au/media/files/cefc-and-dexus-to-deliver-australian-first-clean-energy-makeover-for-healthcare-sector/

Australian Government. Department of Industry, Innovation and Science. Australian Industry Participation. Available at: https://industry.gov.au/industry/IndustryInitiatives/AustralianIndustryParticipation/Pages/default.aspx

Inception date: 21 Dec 2017 | Removal date: open ended

State loan

On 21 December 2017, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of up to AUD 100 million (USD 77 million at the time of the announcement) to Dexus, an Australian real state group.

The objective of these resources is the creation of the Dexus Healthcare Wholesale Property Fund that will manage hospital and healthcare assets with an environmentally sustainable development focus.

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.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 21 Dec 2017 | Removal date: open ended

Local sourcing

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 100 million (USD 77 million) credit line allocated to Dexus, includes some provisions related to local content requirements.

 
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