Australian councils are being encouraged to invest in clean technologies to reduce their energy bills and lower emissions, via a new $250 million program from the Clean Energy Finance Corporation (CEFC). The CEFC Local Government Finance Program is designed to provide flexible and competitive fixed-rate, long-term finance tailored to the needs of Australian councils.
Key elements of the CEFC Local Government Finance Program include finance for eligible projects across renewable energy, energy efficiency and low emissions technologies; loans of at least $10 million for a single project or package of works; finance can be drawn over three years; ability for multiple councils to enter into joint financing agreements for eligible projects; access to competitive fixed-rate longer-dated senior debt (up to 10 years); and a straightforward approval process with simple loan documentation.
Projects can include energy efficient street lighting, sustainable council buildings, electric vehicles, storage solutions and more.
Having worked closely with the CEFC for nearly 5 years now we’re always impressed with how professional and knowledgeable they are. We were involved with projects in Baw Baw Shire Council, Warrnambool City Council, Richmond Valley Shire Council and many others, and there's no doubt that the CEFC have been a critical part of the Local Government landscape and have helped put alternative financing options on the map.
The new program builds on the CEFC’s strong experience working with local government, including the recently-announced $30 million program of clean energy initiatives to help the City of Melbourne reach its goal of zero net emissions by 2020.
Give us a buz if you want to discuss any project ideas or options. Otherwise watch this space!