Clean Energy Finance Corporation Chair announced

www.cleanenergycouncil.org.au
Tue, 18 Oct 2011

The Clean Energy Council has welcomed today's announcement of Reserve Bank Board Member Jillian Broadbent AO as Chair of the new $10 billion Clean Energy Finance Corporation (CEFC). Clean Energy Council. Chief Executive Matthew Warren said today's announcement was "an important milestone" for the clean energy sector.

"Not only is the Federal Government's clean energy legislation one step closer to becoming law, the appointment of Jillian Broadbent as Chair of the CEFC brings closer a key institution needed to help deliver the transformation of Australia's energy sector," he said. "The Clean Energy Council has been advocating since 2010 for the creation of a dedicated, independent carbon bank to underwrite multi-billion dollar investment into the clean energy economy and play a pivotal role in freeing up private sector capital.

"A well designed CEFC will unlock billions of dollars needed to deliver the clean energy future," Mr Warren said. "This is particularly important for stand-alone and hybrid renewable energy generation using solar, wind, geothermal, bioenergy and marine energy, as well the infrastructure needed to improve the efficiency and operation of the networks," he said.

Mr Warren congratulated Ms Broadbent on her appointment and said the clean energy industry looked forward to working with her. "Our industry is ready to take Australia's energy sector into the next age of energy development. "The carbon price is a once-in-a-generation reform that will signal a new era of policy stability for the entire electricity sector, unlocking the billions of dollars in investment capital required to transform the way we generate, deliver and consume electricity over the coming decades," Mr Warren said.