Pilot to unlock private finance for industrial companies going green

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Promote green finance products and expertise

Encourage competitive tariffs for decarbonization

Help reduce the risks of innovative and sustainable investments

Maximize the impact of government co-financing

The government, through the Energy Efficiency Conservation Authority (EECA), has launched an innovative green private finance pilot project, working with participating financiers to help businesses secure finance for large decarbonization projects,” Energy and Resources Minister Megan Woods said.

“This pilot project will further support initiatives focused on climate impact and reducing emissions,” said Megan Woods.

“This will help connect large companies wishing to decarbonize with green financial products, services and expertise, and streamline the process of making private finance available.”

The pilot project is aligned with the government’s Expanded Government Decarbonization Industry Investment Fund (GIDI) administered by EECA. EECA invites applicants with large decarbonization projects to apply now for contestable co-funding to reduce carbon emissions from their industrial processes.

The support offered by each financier to GIDI applicants depends on the range of sustainable products and services they offer – this can include reduced loan rates, advisory services and expertise to support the implementation of complex energy projects.

“We know we need more tools to help us achieve our climate change goals. Green finance initiatives can help bridge the investment gap that companies face when trying to do the right thing. This will benefit all New Zealanders,” said Megan Woods.

“We are delighted to have such support for the decarbonisation of New Zealand businesses from participating financiers. Common problems require common solutions, and this pilot project is a great example. »

Notes to Editors

GIDI is administered by the Energy Efficiency and Conservation Authority (EECA) and is a partnership between business and government – ​​the expansion of the program was part of the Climate Emergency Response Fund’s 2022 budget announcement (CERF) and emerged from the significant success of the program to date.

Prospective GIDI applicants can find out more about the funding on offer on the EECA website – GIDI private financing pilot project.

Participating financial providers include:

ANZ

BSA

BNZ

Kiwibank

NZGIF

capital for purposes

Simply energy

Solar bay

Westpac

EECA will not have a direct role in brokering the relationship between funders and potential GIDI applicants, but will support information sharing.

EECA makes no advice, recommendation, representation or warranty with respect to fitness for purpose or fitness or otherwise, has no responsibility and shall not be liable for any decisions made by any finance provider.

© Scoop Media


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