CEFC to financially support renewables in regional Australia

Clean Energy Finance Corporation’s CEO Oliver Yates said there is significant potential for regional Australia to benefit from renewable energy and energy efficient technologies, and that now is the time for communities to grasp that opportunity.

In his address to the Australian Regional Development Conference attendees, in Albury, New South Wales, Australia, Oliver Yates stated innovative technologies were already reducing the cost of energy for regional communities.

Yates said: “The renewable energy industry already employs about 20,000 people, and as investment in this industry grows, so too will job numbers. The Clean Energy Council has estimated there will be some Au$40 billion invested in this sector in the next five years under the revised Renewable Energy Target, creating some 15,200 jobs. It’s important for regional Australia to consider how much of this renewable energy potential it can capture.”

Yates added that CEFC has more than Au$300 mln in finance available for projects that can bring cheaper energy, local industry and jobs.

CEFC has been established under the Clean Energy Finance Corporation Act 2012 with the aim to overcome market barriers and mobilise investment in renewable energy, energy efficiency and low emissions technologies.

Image: Carnegie Wave