Australia Accelerating Investment Tender

The Clean Energy Finance Corporation will prioritise investment in innovative technology and financing solutions to further accelerate emissions reduction in the year ahead. This includes accelerating measures to deliver a stronger cleaner electricity grid investing in large scale energy storage solutions and backing emerging opportunities in hydrogen. Bolstered by a strong performance in the 2019-20 financial year CEFC investment commitments since inception reached 8.2 billion to 30 June 2020 helping spur 27.8billion in clean energy initiatives across the economy. The CEFC Annual Report for 2019-20 tabled in the Australian Parliament confirms the strength breadth and depth of the CEFC investment portfolio after eight years of investment. The Annual Report also details the financial strength of the CEFC with 1.66 billion in CEFC capital recycled through repayments sales and redemptions to be available for reinvestment by the CEFC. CEO Ian Learmonth said the Annual Report provided compelling evidence of the potential for Australia to achieve a low emissions economy capitalising on innovative technology and investment solutions. With the backing of the Australian Government CEFC investments were delivering benefits across the economy in agriculture infrastructure property transport and waste. They were also extending the benefits of reliable and affordable clean energy to an increasing number of Australians while lifting local investment. For the year ahead we are focused on investing in a secure affordable and sustainable energy system to increase the share of renewable energy in a modernised electricity grid. We are also committed to backing opportunities in energy storage in batteries virtual power plants and pumped hydro Mr Learmonth said. The excitement around hydrogen and recycling signals the very strong potential of these technologies to deliver a step change in emissions reduction. We will also accelerate efforts to drive down emissions from buildings agribusiness and infrastructure and continue to back the cleantech sector where innovative startups are transforming the way we farm drive and even receive our home deliveries. In his letter accompanying the Annual Report CEFC Chair Steven Skala AO said Since inception sound financial management has been a hallmark of CEFC operations driven by the acknowledgement that it invests on behalf ofAustralian taxpayers with a responsibility to meet agreed policy objectives and deliver a positive financial return. In201920 challenging economic conditions highlightedthe importance of this commitment to prudentinvestment. In line with its role in leading the market the CEFC is often creating the market for investment pursuing opportunities that are economic but not yet easily bankable. As such it assumes risks that others may not yet be familiar with and in doing this has developed robust systems for investing and carefully managing its portfolio. Investment highlights 2019-20 Continued strong financial performance despite the challenging economic environment with almost 942 million in CEFC finance repaid or recouped alongside revenue of 205 million and a normalised surplus from operations of 100.5million CEFC investment commitments of more than 1 billion supporting investments with a combined value of 4.2 billion in the year to 30 June 2020 and targeting more than one million tonnes of carbon abatement annually CEFC finance extended to new areas of the economy delivering Australias first dedicated green bond fund the first CEFC green home loan and a 50 per cent uplift in the capacity of Australias largest battery in Hornsdale South Australia New investment commitments of just over 13 million in three cleantech innovators as well as increased investment of 3.4 million in two other portfolio companies to accelerate their growth More than 187 million in CEFC wholesale finance to support some 6700 smaller scale investments in clean energy projects including in agribusiness manufacturing property and transport Portfolio highlights 2019-20 CEFC financed renewable energy projects delivering a combined 2.9 GW of renewable energy capacity to the grid across 24 solar farms and nine wind farms Successful delivery of the FarmPrint pilot a unique tool to enable Australian farmers to monitor benchmark and evaluate their on-farm carbon footprint drawing on a unique collaboration between the CSIRO MIRA and the CEFC First ASX-listing of an Innovation Fund portfolio company with Geelong-based Carbon Revolution raising 90.1 million in its initial public offering including 30 million as a primary raise and 60.1 million as a secondary selldown Major progress in two landmark energy from waste projects with Avertas Energy achieving significant development milestones in its Perth facility and Melbournes South Eastern Organics Processing Facility becoming fully operational diverting household garden and food waste from landfill by converting into high grade compost. Independent recognition for the outstanding sustainability achievements of six CEFC investee companies including in energy from waste energy storage commercial and residential property and infrastructure.