AUD 100 million in co-financing will be offered by CEFC and Bank of Queensland to businesses in Australia. This will be available in the form of financial leases, specific security agreements and commercial hire purchases. Pictured is the skyline of Brisbane in Queensland, Australia. (Photo Credit: www.goodfreephotos.com)
- A new co-financing program has been launched in Australia to support local businesses switch over to solar, storage and electric vehicles
- The AUD 100 million financing will be provided by the CEFC and Bank of Queensland
- The co-financing is aimed at helping businesses lower their energy use, use clean power and also lower carbon emissions
South Australian Government Green Signals 275 MW Wind & Solar PV Facility Proposed By Neoen With 130 MW/400 MWh Battery Storage; Lightsource BP Holding Community Engagement Activity For 100 MW Solar Project In State
(08. August 2019)
Over 500 MW Solar Power Capacity With Storage Competing For Renewables 400 Reverse Auction In Queensland; Winning Projects To Be Managed By CleanCo
(06. August 2019)
Clean Energy Regulator Report Claims Australia Likely To Exceed 33,000 GWh Large-Scale Renewable Energy Generation Target In 2020
(06. August 2019)
Businesses in Australia planning to switch over to solar, energy storage and electric vehicles can depend on AUD 100 million ($67.9 million) financing launched by the Clean Energy Finance Corporation (CEFC) and the Bank of Queensland’s BOQ Finance (BOQF) division.
BOQF is drawing on CEFC finance to offer a 0.7% per annum discount on the finance rate for a range of eligible projects through the BOQF Energy Efficient Equipment Finance program with the aim of helping businesses capture clean energy, lower energy use, improve productivity and lower carbon emissions.
The program will finance projects such as rooftop solar systems and solar thermal systems, agricultural equipment including tractors, headers and irrigation, battery storage, battery electric vehicles, plug in hybrid electric vehicles, and lighting, HVAC and commercial refrigeration equipment.
Funding options range from financial lease, specific security agreement and commercial hire purchase.
Set up by the Government of Australia to improve the flow of financing for clean energy projects, CEFC says it has provided more than AUD 1 billion ($679 million) in new investments to smaller-scale clean energy projects in the country.
A June 2019 report commissioned by CEFC and the Property Council of Australia expects the country to have 179 GW of rooftop solar potential that can generate 245 TWh of clean power annually. Commercial and industrial zones are expected to manage 26 GW of this capacity (see 179 GW Rooftop Solar Potential In Australia).