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New CEFC CEO announced

26th Nov 2012

There is still more than six months before the Clean Energy Finance Corporation (CEFC) will begin splashing out funding for renewable energy projects - but a new CEO has been announced.

Starting today (November 26), Oliver Yates will be the chief executive officer of the $10 billion fund, which was formed in 2011 to invest in various renewable energy projects, including solar power.

And according to the CEFC, the organisation is lucky to have Mr Yates - who has 20 years of experience in corporate advisory, financial structuring and project finance positions.

He previously worked for Macquarie Bank, where he worked on establishing new businesses both domestically and abroad, as well as helping with the institution's sustainable initiatives such as wind, biofuels and solar operations.

"The appointment of Mr Yates is an important milestone for the CEFC as it continues with its establishment," the organisation explained.

It added that the new CEO's "wealth of experience" is a real advantage for the CEFC moving forward, with funding set to commence in July 2013.

A recent report commissioned by the World Wildlife Fund and the Australian Solar Council recently highlighted the advantages the CEFC could bring to solar power - provided the funding was extended into the Renewable Energy Target.

Posted by Mike Peacock

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