Clean Energy Finance Corporation Outcome 1
Facilitate increased flows of finance into Australia's clean energy sector, applying commercial rigour to investing in renewable energy, low-emissions and energy efficiency technologies, building industry capacity, and disseminating information to industry stakeholders.
| # | Program | Body | Contribution |
|---|---|---|---|
| 1.1 | Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | The Corporation helps mobilise investment in renewable energy, low emissions and energy efficiency projects and technologies in Australia, as well as into businesses and services that produce the required inputs. It uses financial products and structures to address the barriers inhibiting investment at the demonstration, commercialisation, and deployment stages of innovationThe Corporation works with private sector financiers and project sponsors to facilitate and leverage increased flows of finance into the clean energy sector. In undertaking its investment activities, the Corporation must consider the potential effect on other market participants and the efficient operation of the Australian financial and energy marketsThe Corporation shares knowledge and expertise with project sponsors, lenders, and the broader industry, helping build capacity within the private sectorThe Corporation is being directed to focus particular attention on investing debt and equity in: a) Emerging clean energy projects and businesses that involve technologies that have passed beyond the research and development stages but are not yet established or of sufficient maturity, size or otherwise commercially ready to attract sufficient private sector investmentb) Renewable energy, low emissions and energy efficiency projects and businesses that improve liveability, accessibility, and productivity of cities c) Clean energy technology projects and businesses that support the delivery of the Government's Reef 2050 Pland) Supporting emerging and innovative renewable technologies and energy efficiency, such as large scale solar, storage associated with large and small-scale solar, offshore wind technologies, and energy efficiency technologies for the built environmente) Investments that support reliability and security of electricity supply Continued on following page 2.1.2: Performance measure for Outcome 1 (Continued) |
| # | Program | Body | Contribution |
|---|---|---|---|
| 1.1 | Australian Renewable Energy Agency Program 1.1 | Australian Renewable Energy Agency | The Clean Energy Innovation Fund is jointly managed by the Corporation and the Australian Renewable Energy Agency, drawing on their complementary experience and expertise. The Clean Energy Innovation Fund has up to $200 million available for debt and equity investments in emerging clean energy projects and businesses, targeting projects at the later end of the innovation chain while delivering a financial return to taxpayers, in addition to the public good return of improving the competitiveness of renewable energy and related technologies. |
| 1.1 | Department of Climate Change, Energy, the Environment and Water Program 1.1 | Department of Climate Change, Energy, the Environment and Water | The Department of Climate Change, Energy, the Environment and Water has responsibility for policies that reduce Australia's greenhouse gas emissions, contribute to effective global action on climate change, and support technological innovation in clean and renewable energy, through developing and implementing a national response to climate change. They also support the affordable, reliable, secure and competitive operation of energy markets for the long-term benefit of the Australian community through improving Australia's energy supply, efficiency, quality, performance and productivity. The Clean Energy Finance Corporation contributes to these programs by facilitating increased flows of finance into the clean energy sector and facilitating the achievement of Australia's greenhouse gas emissions reduction targets, and in providing financial support in aid of the RTN policy measure. |
| 1.2 | Department of Climate Change, Energy, the Environment and Water Program 1.2 | Department of Climate Change, Energy, the Environment and Water | The Department of Climate Change, Energy, the Environment and Water has responsibility for policies that reduce Australia's greenhouse gas emissions, contribute to effective global action on climate change, and support technological innovation in clean and renewable energy, through developing and implementing a national response to climate change. They also support the affordable, reliable, secure and competitive operation of energy markets for the long-term benefit of the Australian community through improving Australia's energy supply, efficiency, quality, performance and productivity. The Clean Energy Finance Corporation contributes to these programs by facilitating increased flows of finance into the clean energy sector and facilitating the achievement of Australia's greenhouse gas emissions reduction targets, and in providing financial support in aid of the RTN policy measure. |
| 1.3 | Department of Climate Change, Energy, the Environment and Water Program 1.3 | Department of Climate Change, Energy, the Environment and Water | The Department of Climate Change, Energy, the Environment and Water has responsibility for policies that reduce Australia's greenhouse gas emissions, contribute to effective global action on climate change, and support technological innovation in clean and renewable energy, through developing and implementing a national response to climate change. They also support the affordable, reliable, secure and competitive operation of energy markets for the long-term benefit of the Australian community through improving Australia's energy supply, efficiency, quality, performance and productivity. The Clean Energy Finance Corporation contributes to these programs by facilitating increased flows of finance into the clean energy sector and facilitating the achievement of Australia's greenhouse gas emissions reduction targets, and in providing financial support in aid of the RTN policy measure. |
| 2.1 | Department of Climate Change, Energy, the Environment and Water Program 2.1 | Department of Climate Change, Energy, the Environment and Water | The Clean Energy Finance Corporation contributes to policies that reduce waste and increase domestic recycling capacity. CEFC makes available funding to the Clean Energy Innovation Fund and Reef Funding Program. Through the Australian Recycling Investment Fund, CEFC provides flows of finance into clean energy technologies that support the recycling of waste, in particular wastes that are - or by 1 July 2024 will be - banned for export. Continued on following page |
| 2.6 | Department of Climate Change, Energy, the Environment and Water Program 2.6 | Department of Climate Change, Energy, the Environment and Water | The Clean Energy Finance Corporation contributes to policies that reduce waste and increase domestic recycling capacity. CEFC makes available funding to the Clean Energy Innovation Fund and Reef Funding Program. Through the Australian Recycling Investment Fund, CEFC provides flows of finance into clean energy technologies that support the recycling of waste, in particular wastes that are - or by 1 July 2024 will be - banned for export. Continued on following page |
| 1.1 | Department of Industry, Science and Resources Program 1.1 | Department of Industry, Science and Resources | The Clean Energy Finance Corporation facilitates increased flows of finance into the clean energy sector. The department works collaboratively with the Clean Energy Finance Corporation to support research and commercialisation and build industry capacity in the sector. The Clean Energy Finance Corporation, alongside the Northern Australia Infrastructure Facility and Export Finance Australia, is active in working to grow Australia's critical minerals sector through catalytic financing. |
| 1.3 | Department of Industry, Science and Resources Program 1.3 | Department of Industry, Science and Resources | The Clean Energy Finance Corporation facilitates increased flows of finance into the clean energy sector. The department works collaboratively with the Clean Energy Finance Corporation to support research and commercialisation and build industry capacity in the sector. The Clean Energy Finance Corporation, alongside the Northern Australia Infrastructure Facility and Export Finance Australia, is active in working to grow Australia's critical minerals sector through catalytic financing. |
| Body | Outcome | Outcome owner | Contribution | |
|---|---|---|---|---|
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Australian Renewable Energy Agency Outcome 1 | Australian Renewable Energy Agency | The Clean Energy Innovation Fund is jointly managed by the Agency and the Clean Energy Finance Corporation, drawing on their complementary experience and expertise. The Clean Energy Innovation Fund has up to $200 million available for debt and equity investments in emerging clean energy projects and businesses, targeting projects at the later end of the innovation chain while delivering a financial return to taxpayers, in addition to the public good return of improving competitiveness of renewable energy and low emissions technologies. |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Clean Energy Finance Corporation Outcome 1 | Clean Energy Finance Corporation | |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Department of Climate Change, Energy, the Environment and Water Outcome 1 | Department of Climate Change, Energy, the Environment and Water | The Clean Energy Finance Corporation contributes to Outcome 1 by facilitating increased flows of finance into the clean energy sector. Continued on following page Linked programs |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Department of Climate Change, Energy, the Environment and Water Outcome 1 | Department of Climate Change, Energy, the Environment and Water | The Clean Energy Finance Corporation contributes to Outcome 1 by facilitating increased flows of finance into the clean energy sector and facilitating the achievement of Australia's greenhouse gas emissions reduction targets, and in providing financial support in aid of the Rewiring the Nation policy measure. |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Department of Climate Change, Energy, the Environment and Water Outcome 2 | Department of Climate Change, Energy, the Environment and Water | The department has responsibility for policies that reduce waste and increase domestic recycling capacity. The Clean Energy Finance Corporation (CEFC) contributes to these polices by making available funding to the Clean Energy Innovation Fund and Reef Funding Program. Through the Australian Recycling Investment Fund, CEFC provides flows of finance into clean energy technologies that support the recycling of waste, in particular wastes that are - or by 1 July 2024 will be - banned for export. Continued on following page Linked programs |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Department of Climate Change, Energy, the Environment and Water Outcome 2 | Department of Climate Change, Energy, the Environment and Water | The department has responsibility for policies that reduce waste and increase domestic recycling capacity. The Clean Energy Finance Corporation (CEFC) contributes to these policies by making available funding to the Clean Energy Innovation Fund and Reef Funding Program. Through the Australian Recycling Investment Fund, CEFC provides flows of finance into clean energy technologies that support the recycling of waste, in particular wastes that are - or by 1 July 2024 will be - banned for export. |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Department of Industry, Science and Resources Outcome 1 | Department of Industry, Science and Resources | The Clean Energy Finance Corporation facilitates increased flows of finance into the clean energy sector. The department works collaboratively with the Clean Energy Finance Corporation to support research and commercialisation and build industry capacity in the clean energy sector. The Clean Energy Finance Corporation, alongside the Northern Australia Infrastructure Facility and Export Finance Australia, is active in working to grow Australia's critical minerals sector through catalytic financing. |
| Clean Energy Finance Corporation Program 1.1 | Clean Energy Finance Corporation | Great Barrier Reef Marine Park Authority Outcome 1 | Great Barrier Reef Marine Park Authority | The Clean Energy Finance Corporation is making available up to $1 billion of investment finance over 10 years for the Reef Funding Program. The Program invests in clean energy projects delivered in the Great Barrier Reef catchment region. In targeting the financing of clean energy projects and businesses in the region, the Program supports delivery of the Australian and Queensland governments' Reef 2050 Plan. Continued on following page |
| Appropriation | Appropriation subtype | 2022-23 |
|---|---|---|
| Budget Estimate | ||
| Special Accounts | 0.00 | |
| Administered | Non-operating | 0.00 |
| Administered | Operating | 0.00 |
| Administered | Special Appropriation | 0.00 |
| Administered | Special Purpose Payments | 0.00 |
| Administered | Assets and Liabilities | 0.00 |
| Administered | Subtotal | 0.00 |
| Departmental | External Revenue | 194,818,000.00 |
| Departmental | Non-operating | 0.00 |
| Departmental | Operating | 12,610,000.00 |
| Departmental | Special Appropriation | 0.00 |
| Departmental | Equity Injections | 0.00 |
| Departmental | Subtotal | 207,428,000.00 |
| Total | 207,428,000.00 |