Please note: This site is a work in progress. Our team is working to continuously improve on all aspects of this service and appreciates any feedback provided. The site has now been updated with information sourced from the 2022-23 Budget documents that were released on 25 October 2022.

Submitted by Richard_Li on Wed, 09/14/2022 - 21:16
Aliases
Clean Energy Finance Corporation

Section 35 of the PGPA Act applies
Yes
Section 35(3) of the PGPA Act applies
Yes

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 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 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 Reducing Australia's greenhouse gas emissions 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.

1.1 Sustainable Management of Natural Resources and the Environment 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

1.2 Renewable energy technology development 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 Supporting reliable, secure and affordable energy 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.

1.6 Management of Hazardous Wastes, Substances and Pollutants 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 Investing in science, technology and commercialisation 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 Supporting a strong resources sector 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.