The Clean Energy Finance Corporation has received a new Investment Mandate from the Federal Government.
Replacing the previous mandate, the Investment Mandate Direction 2016 gives effect to the creation of the Clean Energy Innovation Fund (CEIF) and specifies the portfolio benchmark return for the CEFC’s investment activities, as well as those of the CEIF.
Under the new mandate, the CEFC will make available up to $100 million per year, from 2016-17 to 2025-26, to the CEIF for debt and equity investment in emerging clean energy technology projects and businesses that are not yet commercially ready to attract sufficient private sector investment.
In considering investment proposals under the CEIF, the CEFC will take into account the advice of the Australian Renewable Energy Agency (ARENA), as to:
- whether the proposal is recommended for support under the Fund;
- the technical and commercial feasibility of the project technology; and
- the competitive environment of businesses seeking to deploy the technology.
The new Mandate takes effect from May 10, 2016, and the CEIF will be formally established on July 1.
In the meantime, project proponents are able to register their interest by email to the CEFC: info@cleanenergyfinancecorp.com.au