ANNOUNCEMENT 24 Mar 2021

The Clean Energy Finance Corporation (CEFC) announced the allocation of AUD 95 million (USD 72.3 million) to support Australian companies Hesperia, Fiveight, and Gibb Group in the development of the Roe Highway Logistics Park.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

Clean Energy Finance Corporation. Media. Latest News. "CEFC finance delivers green foundations for Perth’s most sustainable logistics and industrial estate" of 24 March 2021. Available at: https://www.cefc.com.au/media/media-release/cefc-finance-delivers-green-foundations-for-perth-s-most-sustainable-logistics-and-industrial-estate/

Gibb Group. Projects. "Roe Highway Logistics Park." Available at: http://www.gibbgroup.com.au/project/roe-highway-logistics-park/

Hesperia. Places. "Roe Highway Logistics Park." Available at:
https://www.hesperia.com.au/places/roe-highway-logistics-park/

Inception date: 24 Mar 2021 | Removal date: open ended

State loan

On March 24th, 2021, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 95 million (USD 72.3 million) to Australian companies Hesperia, Fiveight, and Gibb Group in the further development of the Roe Highway Logistics Park in Perth. 

The 56-hector Roe Highway Logistics Park is an industrial estate with lots available to buy or lease for companies in the logistics, freight, pallet, and oil and gas sectors. Notably, the Park's construction is also a carbon-neutral development.

According to the CEFC CEO, Ian Learmonth, "exciting developments in low carbon construction materials are giving us the chance to accelerate decarbonisation, and success in this sector will help spur Australia’s transition to a low emissions economy." With the financing of the Park, the CEFC has committed nearly AUD 629 million (circa USD 478.6 million) in projects related to renewable energy, resources, and property. Please, see related state acts. 

 

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

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 24 Mar 2021 | 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 can be understood that the AUD 95 million (USD 72.3 million) investment allocated to Hesperia, Fiveight, and Gibb Group is subject to local content requirements.

 
N/A
 
N/A