CEFC will provide up to AU$50 million in senior debt finance for
development of two Western Australian waste-to-gas facilities by New Energy Corporation. This is Western Australia’s first municipal waste-to-gas project. The facilities will recover municipal, industrial and commercial waste streams and sell the generated power (estimated as 70% renewable) most likely to local large energy users (e.g. local water or port authorities).
CEFC financing will be for about one quarter of the total project cost and will be supplemented by a similar level of financing from another bank, with the balance of half the project cost funded through equity. No concessionality applies. The CEFC’s finance for New Energy will assist in developing what is the first municipal waste-toenergy gasification project within Australia, and help
facilitate access to private sector funding for other waste-to-energy facilities in the future.