The Clean Energy Finance Corporation (CEFC) has announced a $250 million program to help councils reduce their energy bills and invest in clean technologies.
The CEFC Local Government Finance Program will finance eligible projects across the areas of renewable energy, energy efficiency and low emissions technologies.
The program is designed to provide flexible and competitive fixed-rate, long-term finance tailored to the needs of Australian councils.
The CEFC’s Paul McCartney, Executive Director – Corporate and Project Finance, said, “Australia-wide, councils are under continued pressure to effectively and efficiently manage their operations.
“Local governments across Australia administer a vast network of street lights, community centres, libraries, sport and recreation facilities and other public access buildings.
“We see strong potential for operational savings through a range of renewable energy, energy efficiency and low emissions technologies. This program will provide councils with access to finance to help accelerate the adoption of these improvements.”
Loans of at least $10 million are available for a single project or package of works. Multiple councils may enter into joint financing agreements for eligible projects.
The CEFC also recently announced it is providing up to $100 million to the new Australian Bioenergy Fund, which aims to invest in technology to derive energy from waste. The organisation has cited major potential benefits for local government in this sector.
Councils wishing to secure finance under the CEFC Local Government Finance Program can email the CEFC local government team at localgovernment@cleanenergyfinancecorp.com.au for more information.
