Antinuclear

Australian news, and some related international items

National Australia Bank to invest more in renewable energy

piggy-ban-renewablesNAB maintains its faith in renewable energy, SMH,  July 19, 2015  Senior Reporter The country’s largest financier of renewable energy projects, National Australia Bank, has said it plans to lend more to the sector despite it being thrown into turmoil last week when Prime Minster Tony Abbott ordered the Clean Energy Finance Corporation (CEFC) to stop putting funds into wind power.

NAB’s head of debt capital markets, Steve Lambert, said the domestic politics around wind power is “noise, but you have to try to look [past that]” and said in the absence of local deals, NAB will continue to back projects overseas, and intends to become one of the world’s leading banks in renewable energy financing. …….

“Is the renewable energy industry supported by long-term fundamentals? Both public opinion and demand suggest yes, it is. Is there money flowing into the industry? Yes, there is. So our thinking is: how do we help facilitate that? We want to stay there and at the same time try some new things.”

NAB has been working with the CEFC to provide Australian businesses with access to discounted funding for energy efficiency and renewable energy upgrades. It was also the first Australian bank to issue a “green bond”, where proceeds are used for an environmentally sustainable purpose. …….. http://www.smh.com.au/business/banking-and-finance/nab-maintains-its-faith-in-renewable-energy-20150719-gieq5g.html#ixzz3gZ5w596X

July 22, 2015 - Posted by | AUSTRALIA - NATIONAL, business, energy

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