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New Drive for Australian Clean Energy Transition: Bank of Queensland Joins CEFC’s Co-Financing Program

Australia has seen an investment of more than $1 billion dollars in clean energy projects since the Government in Canberra founded the Clean Energy Finance Corp (CEFC) in 2012. Besides programs for solar projects, the switch to hybrid or electric vehicles and agribusiness projects, the co-finance programs of the CEFC have also financed various projects to upgrade energy efficiency for household technologies. Now, the Bank of Queensland’s finance division (BOQF) has joined the program with a $100 million agreement to promote businesses‘ switch to clean energy sources.

The independent Australian bank is responding to a social development: “An increasing number of our customers are seeking clean energy alternatives, and we are pleased to be working with CEFC to make the up-front investment in sustainable solutions simpler and more affordable,“ BOQF CEO Verity Gilpin says. The BOQF Energy Efficient Equipment Finance program may encourage businesses on their way to use sustainable energy resources like self-generated solar energy. Additionally the co-finance program is to invest in programs for better battery storage to enable the best use of this energy. These changes will have noticeable individual benefits for the businesses: “The BOQF Energy Efficient Equipment Finance program will help businesses capture the clean energy benefits of lower energy use, improved productivity and lower carbon emissions,“ says CEFC Transaction Lead Grace Tam.

Further projects may involve agricultural equipment, battery or hybrid electric vehicles or lighting, HVAC and refrigeration solutions.

Source: Clean Energy Finance Corporation |

Image: Pexels |

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