With the highest average solar radiation per square metre of any country in the world, and substantial cost reductions in solar technology over recent years, there is significant future opportunity for growth in deployment of solar technologies in Australia.
The CEFC has invested in large and small-scale solar projects using solar photovoltaic (PV), solar tracking, concentrated solar power and solar thermal technology. Demand for solar financing continues to be strong, and CEFC’s overall pipeline includes sponsors seeking finance for potential solar projects valued at over $3 billion.
The CEFC is seeking to attract greater private investment in solar by developing a track record of proven credit and operational performance.
The CEFC has a $250 million Large-Scale Solar financing program providing debt finance to solar PV projects of 10MW or more. The offer of fixed-rate longer-dated senior debt is aimed at sponsors seeking loans of $15 million or more.
The program is open to projects that have, or intend to seek Power Purchase Agreements, as well as projects proposing to take some merchant electricity market exposure. Loans sourced through the program can be used to complement ARENA’s Large-Scale Solar PV Competitive Round funding program, as well as other large-scale renewable energy development programs.
Important information for project sponsors
If you are interested in seeking finance for a large-scale solar project:
A strong track record
The CEFC has a strong track record of supporting large-scale solar in Australia, with CEFC finance currently supporting the development of about a third of the total 300MW of large-scale solar currently installed or under construction in Australia. Large-scale solar projects which have received CEFC funding to date include:
Small-scale residential and commercial solar PV
CEFC finances a range of programs for solar PV, including leasing and Power Purchase Agreements (PPAs), helping to expand and deepen the solar PV market in Australia.
The financing programs offer products tailored for specific market segments:
The CEFC has also co-financed solar PV installations by Australian Agricultural Company Limited (AACo) across a number of its regional and remote facilities. This highlights the potential for businesses across the country to reduce costs and increase competitiveness through greater use of solar PV and other renewable energy sources.
Victoria's Central Goldfields Shire Council undertook energy efficiency upgrades and installed solar PV panels on one of their buildings to reduce their energy costs.