Australia’s clean energy industry said a $100 million joint funding deal announced between the Federal Government and the Commonwealth Bank today would help small and medium manufacturing businesses remain competitive in tough economic conditions.
Clean Energy Council Policy Director Russell Marsh said the announcement showed that there was a role for government in helping to finance projects that would help to reduce operating costs through energy efficiency technology.
“It’s hardly a secret that Australia’s manufacturing sector has been struggling, and access to this kind of new funding through the Clean Energy Finance Corporation is good news for local businesses,” Mr Marsh said.
“Manufacturing businesses which may be doing it tough due to the high Australian dollar and increased competition from countries with lower labour costs will be able to finance upgrades that will substantially cut their power bills.
“This kind of commercial loan program shares the risk between the public and private sectors and provides funding that would not otherwise be available.
“Businesses such as Labelmakers and fruit supplier Radevski Coolstores have made substantial savings under a pilot program run by Low Carbon Australia, and it is great to see this program expanded so that is can benefit more Australian enterprises,” he said.
- 1 Jul, 2013
- Kit Man Chan
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