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CEFC commitments 2016-17

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CEFC FINANCE IN ACTION – LOW CARBON ELECTRICITY
Renewables generators, electricity retailers, and network service providers CEFC commitment
2016-17
Artesian Venture Partners Cornerstone investor in the $26 million Clean Energy Seed Fund, managed by Artesian Venture partners and focused on emerging innovations and startups in clean energy. Finance delivered through the Clean Energy Innovation Fund. $10.0m
Commonwealth Bank Cornerstone investor in the Commonwealth Bank’s first climate bond, linked to a broad range of clean energy assets. $28.0m
RATCH-Australia A disused coal-fired power station at Collinsville in North Queensland, being redeveloped as a $100 million 42MW solar farm, which is expected to generate enough power to meet the needs of 15,000 homes. $60.0m 
CWP Renewables The 270MW Sapphire Wind Farm, located west of Glen Innes in northern NSW, expected to generate enough energy to meet the needs of 110,000 homes.  $119.3m
FlexiGroup A $50 million climate bond issued by FlexiGroup with an underlying asset base of residential rooftop solar. The CEFC was a cornerstone investor. $20.0m

Genex Power Ltd Development of a 50MW solar farm as part of Phase One of the Kidston Renewable Energy Hub near Townville. Phase Two of the project includes a pumped hydro storage project on the same site.  $50.1m
GreenSync GreenSync, which specializes in demand management technology, is scaling up its operations using CEFC finance delivered through the Clean Energy Innovation Fund. $5.0m
 
Neoen A 30MW solar farm south-east of Griffith in NSW, including 112,000 solar panels, is expected to generate enough power to meet the energy needs of more than 11,500 homes.

$40.8m 
Impact  Investment  Group The $100 million IIG Solar Income Fund, managed by the Impact Investment Group, has seed assets including the Mt Majura and Williamsdale solar farms in the ACT and the Karratha Airport solar farm in WA. Up to $50.0m
Infigen The 113MW Bodangora Wind Farm, near Wellington in NSW, is expected to produce enough energy to meet the needs of more than 49,000 homes. $81.4m
Lighthouse Solar Fund A new equity fund, investing in the origination, design, and installation of solar PV systems that can be leased by small and large-scale commercial customers. $15.0m
Canadian Solar The 15MW Longreach Solar Farm, with 54,600 panels across 86 hectares, is expected to generate enough power to meet the energy needs of some 5,000 homes. $13.5m
Neoen The Dubbo Solar Hub, a 25MW solar farm over two sites in NSW, one east of Dubbo and one north of Narromine. Together, they are expected to generate enough power to meet the needs of 9,500 homes. $28.4m
Canadian Solar The 25MW Oakey Solar Farm, with its 93,600 panels across 60 hectares, is expected to generate enough power to meet the needs of 7,000 homes. $19.4m
Neoen A 55MW solar farm west of Parkes will include more than 200,000 solar panels, expected to generate enough power to meet the needs of 20,500 homes. $79.5m
Pilbara Minerals The Pilgangoora lithium-tantalum project in WA produces lithia raw materials (spodumene concentrate) that can be used to support a full range of lithium products for lithium-ion batteries and energy storage solutions. $19.8m
Palisade Investment Partners The Palisade Renewable Energy Fund, aiming to inject as much as $500 million in new investment to accelerate the development of renewable energy infrastructure assets, with a focus on late-stage development, construction and brownfield assets. The CEFC was a cornerstone investor. $75.0m
Esco Pacific/Palisade Investment Partners The 116MW Ross River Solar Farm south-west of Townsville is expected to generate enough power to meet the needs of 65,000 homes. This is the CEFC’s first equity investment in a solar farm. $20.2m
ResourceCo ResourceCo is developing facilities to transform selected non-recyclable waste streams into Processed Engineered Fuel (PEF) that can be used in cement kilns, displacing coal and other fossil fuels. The Wetherill Park plant in Sydney will be capable of processing 150,000 tonnes of waste materials annually. $30.0m
Edify Energy Three large-scale solar farms will add a combined 165MW of capacity to the national electricity grid. The Whitsunday and Hamilton solar farms in north Queensland are both 57.5MW developments. The 50MW Gannawarra project is the CEFC’s first commitment to a Victorian solar farm. $78.1m
TOTAL CEFC COMMITMENTS TO LOW CARBON ELECTRICITY $843.6m5

Figure 25: CEFC finance in action – low carbon electricity

5. The CEFC completed 35 individual transactions in 2016-17. Some transactions are allocated across multiple categories, reflecting the deployment of CEFC finance across different industry sectors.

CEFC FINANCE IN ACTION – AMBITIOUS ENERGY EFFICIENCY 
Property, infrastructure, manufacturing, agriculture,
community housing and universities
CEFC commitment
2016-17
PROPERTY $610.9m
Blue Sky Private Real Estate and Goldman Sachs The Atira Student Living 428-bed student accommodation project in Adelaide is being built to a new benchmark in energy efficient design. $31.8m
Commonwealth Bank Part of the Commonwealth Bank’s first climate bond, linked to a broad range of clean energy assets. $29.0m
Commonwealth Bank The CBA Energy Efficient Equipment Finance program provides finance for a wide range of energy efficient assets, including those that can be used to retrofit buildings to reduce energy use. $18.1m
Investa Commercial Property Fund Cornerstone investor in the first green bond issued by the Investa Commercial Property Fund. The $100 million issuances were certified by the Climate Bonds Initiative. $19.0m
Investa Office Fund Investa Office Fund (IOF) was the first Australian real estate investment trust to issue a certified Australian dollar green bond. The $150 million issuance will be allocated against a portfolio of low carbon buildings within IOF's portfolio. The CEFC was a cornerstone investor. $20.0m
Property-related transaction Transaction details to be announced when finalised. $60.0m
National Australia Bank The NAB Energy Efficient Bonus program is helping Australian businesses transform their energy use with loans for eligible clean energy investments, such as vehicles, energy efficient irrigation systems, solar PV, building and lighting upgrades, processing line improvements and refrigeration. $3.0m
Property-related transaction Transaction details to be announced when finalised. $200.0m
RateSetter Australia’s first peer-to-peer green lending platform, RateSetter’s Green Loan Marketplace, is an innovative online platform for investors, borrowers and clean energy product providers. $20.0m
AMP Capital The CEFC finance will help accelerate the development of world-leading energy efficient commercial property through the $4.7 billion AMP Capital Wholesale Office Fund, which is aiming to deliver a property portfolio of net zero carbon emission buildings by 2030. $100.0m
Investa Office Management CEFC finance is contributing to the development of the $900 million 33-storey energy efficient office tower at 60 Martin Place in Sydney, to push the boundaries of energy efficiency in commercial property. $110.0m
INFRASTRUCTURE $150.0m
Qube Holdings Ltd

Qube Holdings Ltd is developing the nationally-significant Moorebank Logistics Park to take emissions-intensive trucks off Australian roads by increasing the use of rail networks to distribute containerized freight to and from Port Botany. This is the CEFC’s first infrastructure investment.

 

 $150.0m
MANUFACTURING $59.5m
Commonwealth Bank Part of the CBA Energy Efficient Equipment Finance program $21.4m
National Australia Bank Part of the NAB Energy Efficient Bonus program. $38.1m
 
AGRICULTURE $155.1m
Commonwealth Bank Part of the CBA Energy Efficient Equipment Finance program $39.5m
 
National Australia Bank Part of the NAB Energy Efficient Bonus program. $115.6m
COMMUNITY HOUSING $150.0m
SGCH
(St George Community Housing)
An additional commitment from the CEFC, to construct a total of 500 new energy efficient homes for low income families in Sydney, and retrofit existing dwellings to higher energy efficiency standards. (Total CEFC commitment to SGCH since 2015-16 is now $170m). $130.0m
UNIVERSITIES  
Monash University In a world-first for the university sector, Monash University is using a $218 million climate bond, certified by the Climate Bonds Institute, to finance sustainability and clean energy projects. The CEFC was a cornerstone investor. $20.0m
TOTAL CEFC COMMITMENTS TO AMBITIOUS ENERGY EFFICIENCY $1,125.4m6

Figure 26: CEFC finance in action – ambitious energy efficiency

6. The CEFC completed 35 individual transactions in 2016-17. Some transactions are allocated across multiple categories, reflecting the deployment of CEFC finance across different industry sectors.

CEFC FINANCE IN ACTION – ELECTRIFICATION AND FUEL SWITCHING
BIOFUELS AND VEHICLES CEFC commitment
2016-17
Carbon Revolution The CEFC finance is part of a $50 million capital raising to enable the company to increase production of the world’s only mass-produced one-piece lightweight carbon fibre car wheel. Finance delivered through the Clean Energy Innovation Fund. $10.0m
Commonwealth Bank Part of the CBA climate bond program. $42.9m
Commonwealth Bank Part of the CBA Energy Efficient Equipment Finance program. $21.0m
National Australia Bank Part of the NAB Energy Efficient Bonus program. $23.4m
SEA Electric SEA Electric is using CEFC finance to ramp up its conversion of medium-duty trucks and commercial vans to be 100 percent electric vehicles. Finance delivered through the Clean Energy Innovation Fund. $5.0m
TOTAL CEFC COMMITMENTS TO ELECTRIFICATION AND FUEL SWITCHING $102.3m7

Figure 27: CEFC finance in action – electrification and fuel switching

7. The CEFC completed 35 individual transactions in 2016-17. Some transactions are allocated across multiple categories, reflecting the deployment of CEFC finance across different industry sectors.

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