Nine-year ANZ-CEFC partnership expands with fresh $150 million commitment for energy-efficient investment
ANZ and the Clean Energy Finance Corporation (CEFC) have added $150 million to their Energy Efficient Asset Finance Program, extending a partnership that has now channelled more than $444 million to over 1,600 Australian businesses since 2017.
The program provides eligible small and medium-sized enterprises (SMEs) with discounted finance for assets including electric vehicles, rooftop solar, battery storage, energy-efficient equipment, and recycling technology. ANZ and the CEFC each contribute 0.4 per cent per annum to deliver a combined discount of 0.8 per cent per annum on qualifying loans.
The latest commitment brings the CEFC's total investment in the program to $600 million. In the most recent financial year, more than $90 million in finance was extended to customers under the scheme.
"Australian businesses are constantly looking for ways to improve productivity and manage costs," said John Campbell (pictured right), managing director of product and specialist sales, business and private bank at ANZ.
"Whether it's installing solar panels, upgrading equipment or transitioning a vehicle fleet, these investments can deliver meaningful savings over time, but the upfront cost can be a barrier. By making finance more affordable, we're helping businesses invest with confidence in assets that can strengthen their operations today while positioning them for future growth.
"Over the past nine years, our partnership with the CEFC has helped businesses invest in the equipment and technology they need to grow and adapt. This additional funding will allow even more Australian businesses to access the assets they need to remain competitive."
Richard Lovell (pictured right), executive director at the Clean Energy Finance Corporation, said the program addressed a recognised gap for smaller operators. "SMEs are looking for practical ways to manage rising costs while maintaining productivity," he said.
"This program helps bring forward investment in equipment that can reduce energy use and improve efficiency, while lowering financing costs at a time when access to affordable capital matters."
Two businesses have cited tangible operational gains from the program. Rhett Davis, general manager at Victorian processed meats manufacturer Lago Smallgoods, said the financing enabled the company to acquire new equipment that lifted production capacity and cut costs.
"As a family business, every major investment needs to deliver real value," Davis said. "The support we received through ANZ and the CEFC helped us invest in energy-efficient equipment including a high-performance slicing machine, robot picker and packing machines that have transformed our operations.
"We've seen significant productivity gains, increased our production capacity by around 30% and reduced costs by about 20%. These improvements are enabling us to grow the business while being much more energy efficient, and in turn, much more competitive."
Joel Brill, co-owner and operator at Tasmanian timber manufacturer Stronach Timber, said access to the discounted loan accelerated an investment in processing technology. "The discounted loan made it easier for us to invest in a new timber processing line equipped with x-ray technology that optimises timber grades and lengths and delivers more value out of every piece we process," he said.
"For a business our size, the upfront cost of this type of equipment is significant, so having access to more affordable finance gave us the confidence to move ahead with the purchase sooner. Since installing the new line, we've reduced waste by around 25% while improving efficiency across our operation. It's helped us increase productivity, lower costs and make better use of our raw materials, which is a win for both our business our customers and the environment."
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