We welcome the announcement today by the Chair of the Clean Energy Finance Corporation Board (CEFC), Ms Jillian Broadbent AO, that Mr Oliver Yates has been appointed as the CEFC's inaugural Chief Executive Officer.
Mr Yates is highly qualified to lead the CEFC, with substantial experience in clean and renewable energy and carbon markets. Mr Yates also has extensive global experience in corporate advisory, financial structuring, project finance, debt structuring, equity raising and listings, including at Macquarie Bank where he was involved in establishing new businesses and growing operations internationally.
Mr Yates' appointment will help ensure the CEFC makes a substantial contribution to Australia's clean energy future based on a low-pollution economy increasingly powered by clean energy. The appointment will also help ensure the CEFC will be ready to commence its investment function from 1 July 2013, as promised.
The $10 billion commercially orientated CEFC will drive investment in renewable energy, low-emissions technology and energy efficiency in Australia as part of the Government's Clean Energy Future package, working alongside the carbon price, the Renewable Energy Target and the Australian Renewable Energy Agency. The CEFC will operate and make its investment decisions independently of the Government.
On behalf of the Government, we congratulate Mr Yates on his appointment.
The CEFC's media release on today's announcement is available at the CEFC website .