Published on : Sep 10, 2015
Clean Energy Finance Corporation (CEFC) and SGCH, a non-profit housing provider agreed to develop environment-friendly housing projects for the poor. CEFC has promised an investment of $60 million in a long-term senior debt. During this program the corporation will build more than 200 new energy efficient homes and upscale some of the SGCH’s properties out of the 4,300 with better technologies. Enabling these homes with low energy solutions will help them in saving on expenditures.
Oliver Yates, CEO of CEFC stated that CEFC wants to be able to finance for a longer duration which will help the tenants reap the benefits of cutting down on operating costs. The proposed model will help the collaborators to make better solutions that are sustainable for the poor.
He further added that there is a requirement for 400,000 social housing households across the country. This obviously translates to a logical option of making them energy efficient to make them sustainable over time to reduce the operation costs for lower income groups.
Trevor Wetmore, acting CEO of SGCH stated that CEFC finance will provide all the possible assistance to SGCH to construct new affordable housing complexes homes that are above the bare minimum standard expected in in Australia. These properties will have minimum rating of 4-star Green star rating or a 7- star rating as per the Nationwide House Energy Rating Scheme known as NatHERS.
Wetmore further added that the tenants staying in the CEFC-financed properties will make massive savings on their energy bills, which will eventually make a difference in their savings.