The Minister for Energy and Emissions Reduction asked our department to lead an independent review of the Clean Energy Finance Corporation’s (CEFC) decisions relating to RateSetter. We engaged RSM Australia to conduct the review.
The review looked at CEFC’s project and investment decisions relating to RateSetter, a green loan company (now Plenti RE Limited).
The review considered:
- whether the CEFC complied with the CEFC Act 2012 when it awarded seed funding to RateSetter in 2016-17
- the CEFC’s role in RateSetter’s appointment as the successful delivery partner for the:
- SA Home Battery Program
- pilot NSW Empowering Homes Program
- the arrangements for current and future planned projects between CEFC and RateSetter
Key findings of the review:
- All CEFC project and investment decisions relating to RateSetter comply with its legislative obligations and investment mandate.
- There is no evidence that CEFC facilitated improper preferential treatment for RateSetter around the two programs.
- There is no evidence to suggest arrangements for current and future planned projects between CEFC and RateSetter are inappropriate.
Read about CEFC investment policies on their website