First CEFC Chief appointed
Chair of the Clean Energy Finance Corporation Board (CEFC), Jillian Broadbent, has announced that Oliver Yates has been appointed as corporation’s inaugural Chief Executive Officer.
Ms Broadbent described Mr Yates as a highly qualified candidate to lead the CEFC, having extensive experience in clean and renewable and carbon markets. Mr Yates also has experience in coroporate advisory, financial structuring, project finance and equity raising.
“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,” Treasurer Wayne Swan said in a statement.
The CEFC was announced in July 2011 as part of the Government's Clean Energy Future Plan. The CEFC will be a $10 billion fund dedicated to mobilising its own and private sector capital into renewable energy, low-emissions and energy efficiency projects and technologies in Australia. It will operate with the expectation of minimal budgetary assistance and make its investment decisions, independently of the Government, based on rigorous commercial assessments.