Clean Energy Finance Corporation

Country	Australia
Year Implemented	2013
Policy Status	Planned
Date Announced	10-07-2011
Date Promulgated	08-11-2011
Date Effective	10-07-2011
Agency	•Department of Treasury •Department of Climate change and Energy Efficiency •Australian Renewable Energy Agency
Funding	AUD 10 billion
Further Information	•www.treasurer.gov.au/displaydocs.aspx?doc=pressreleases/2011/121.htm&pageID=003&min=wms&Year=&DocType=0
Policy Type	•Financial
Policy Target	•Multiple Renewable Energy Sources
Policy Sector	•Multi-sectoral Policy
Description	The objective is to overcome capital market barriers that hinder the financing, commercialisation and deployment of renewable energy, energy efficiency and low emissions technologies. The AUD10 billion commercially orientated Clean Energy Finance Corporation will invest in renewable energy , low pollution and energy efficient technologies. A variety of funding tools will be used to support projects, including loans on commercial or concessional terms and equity investments. An expert review panel will consult with key stakeholders and report to the Government by mid-March 2012 with recommendations on the: - implementation plan for the establishment of the CEFC - investment mandate and risk management approach of the CEFC - governance arrangements of the CEFC, including the responsibilities, powers and statutory duties of the Board, Chair and Chief Executive Officer. The recommendations of the review will assist with the drafting of legislation.
URL	www.cleanenergyfuture.gov.au/clean-energy-future/renewable-energy/
Legal References	Legislation will be introduced to Parliament in 2012 to allow the corporation to operate from 2013/14.