Connect with us

Hi, what are you looking for?


Clean Power

Australia Commits $350 Million To Large-Scale Solar Development

Two of Australia’s renewable energy agencies have committed millions in funding to large-scale solar development.

Australia’s Clean Energy Finance Corporation has announced a $250 million large-scale solar finance program intended to boost development in Australia. Meanwhile, the Clean Energy Finance Corporation (CEFC) in cooperation with the Australian Renewable Energy Agency (ARENA) announced a separate $100 million programme that will seek bids from major large-scale solar PV project developers for grants of up to $30 million a piece.

The CEFC and ARENA announced the moves earlier this week, which the CEFC explains “will represent the largest lending commitment to the large-scale soar sector in Australia to date.” In its own press release, ARENA suggested that “at least four, and as many as 10, new large-scale solar farms will be built across Australia” as a result of the announced funding.

Specifically, CEFC Chief Investment Officer Ted Dow explained that the $250 million program will drive down the cost of large-scale solar in Australia, “and further strengthen Australian industries in the solar supply chain.” Furthermore, Mr Down said that the program will support the accelerated development of large-scale solar PV projects of more than 10 MW, with loan requirements of $15 million or more.

“The CEFC finance will be available over a longer term, at a fixed rate,” Mr Dow said. “We see this as critical to providing added certainty and confidence to developers and producers in the large scale solar supply chain, which is still developing in Australia.”

“The CEFC finance will be available for projects which have power purchase agreements, as well as those proposing to take some merchant risk,” Mr Dow continued. “We will also seek to catalyse other sources of finance to support large scale solar developments, through co-investment in debt and equity. In this way, we can help fill the funding gap in the large-scale solar sector, and encourage greater participation by banks and other institutions as the sector expands and develops a track record of proven credit and operational performance.”

“Australia has huge natural advantages in this area: more sun than almost anywhere else and a solar R&D sector that is the envy of the world,” added ARENA CEO Ivor Frischknecht. “The funding round is about unlocking that capability to deploy large-scale solar farms across the nation. This will drive further innovation in the sector and create efficiencies in Australia’s solar PV supply chains.”

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

New Podcast: How NVIDIA Is Bringing Autonomy To Automakers

Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.


Support our work today!


Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports


EV Sales Charts, Graphs, & Stats


Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like


The 300 MW/450 MWh Victoria Big Battery will use Tesla Megapack energy storage system.


After planning a trip in an Aptera for London to Moscow to Beijing, I decided to see about crossing two more continents so we...


The climate crisis may seem like such a vast and complex problem that mankind is simply incapable of addressing it. However, a new study...

Air Quality

By most accounts, 2020 has been a rough year for the planet. It was the warmest year on record, just barely exceeding the record set...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.