23 November, 2023, Sydney: The Clean Energy Investor Group (CEIG) is responding to the expansion of the Capacity Investment Scheme, announced by Federal Energy Minister Chris Bowen.
Simon Corbell, CEO of CEIG said:
“Clean energy investors strongly welcome this major policy initiative which will unlock significant new investment in new renewable energy generation and storage projects across Australia.
“CEIG has consistently argued for stronger policy to support contracted revenues for clean energy projects. Without stronger revenue predictability it has been difficult for many project owners to secure the debt and equity commitments needed to bring projects to financial close. It has also made it harder for large Australian superannuation funds to support investment in renewable energy at the scale needed for the energy transition.
“This new policy will help unlock a wave of new clean energy investment across the country.
“CEIG especially welcomes the measures to deliver regular auctions at 6 monthly intervals until 2027, this is the longer term certainty investors, and the energy grid needs, to achieve a timely transition.
“Improving planning and other regulatory assessment pathways is also vital for investors. To this end it is pleasing to see the leadership of the Commonwealth in making action by the states on these issues a condition of the new expanded Capacity Investment Scheme support.”
The Clean Energy Investor Group presents domestic and global investors with a combined Australian portfolio value of over A$38 billion and more than 76 clean energy assets under management. It is an investor body, representing the unique perspective of clean energy investors to regulators, policy makers and the broader energy sector.
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