New CEFC finance agreement to benefit manufacturers

The Clean Energy Finance Corporation (CEFC) has committed $50 million in Energy Efficiency Loans (EELs) to help businesses improve their energy productivity.

The CEFC funding is matched by the Commonwealth Bank and significantly scales up the agreement the bank previously had with Low Carbon Australia to co-finance energy efficiency and small-scale renewable projects.

$10.5 million of investment projects have already been funded by the co-financing arrangement with Low Carbon Australia, which has now been integrated into the CEFC, to assist manufacturers reduce energy costs, including a trigeneration plant, industrial refrigeration upgrade and more efficient printing presses.

“These loans are designed to help businesses upgrade equipment for improved energy efficiency and can be used to finance up to 100% of the project cost, enabling businesses to preserve their working capital,” said Oliver Yates, CEFC CEO.

“The CEFC and Commonwealth Bank agreement will provide finance that enables businesses to take immediate advantage of energy and operating cost savings from new equipment, positioning them to be more competitive.”

The EELs can be used to fund the purchase of equipment such as: energy-efficient lighting; industrial refrigeration; methane capture; heat exchangers; energy-efficient motors, pumps and fans; solar panels, compressed air and variable speed drives; and cogeneration and trigeneration plants.

More information about the CEFC, its investment policies and how to apply for finance are available at www.cleanenergyfinancecorp.com.au.