Partnership with CEFC
The Government’s Clean Energy Finance Corporation (CEFC) has provided SO4 with a US$47m loan as part of the US$138m debt financing package for the development of Lake Way.
The CEFC is a Commonwealth statutory authority that was established to facilitate increased flows of finance into clean energy projects to address some of Australia’s toughest emissions challenges – in agriculture, energy generation and storage, infrastructure, property, transport and waste. It is responsible for investing A$10 billion in clean energy projects on behalf of the Australian Government and works to deliver a positive return for taxpayers across its portfolio.
CEFC’s participation in the lending syndicate validates Lake Way’s green credentials and its contribution towards reducing carbon emissions from the fertiliser and agricultural sectors.
CEFC CEO Ian Learmonth said: “Low emissions SOP production is an exciting new Australian industry with the potential to substantially reduce greenhouse gas emissions from the hard-to-abate agricultural sector.
"Demand for SOP outside China is growing by about three per cent a year, and this is expected to continue as the world grapples with the question of how to produce more food, more sustainably and under increasingly difficult farming conditions"
"Using sustainably produced SOP means we can continue to decarbonise agriculture while meeting the growing demand for food. At the same time, we are supporting the development of a new export industry for WA, providing another great example of the economic benefits of transitioning to lower emissions."