Allens has advised the Clean Energy Finance Corporation (CEFC) as mezzanine lender to the Metro green securitisation warehouse. The financing arrangement underpins Metro’s initiative to offer a 1% discount on Metro’s standard rate for eligible customers, with CEFC finance backing a 0.5% discount, matched by Metro.
This transaction is a further milestone in the CEFC’s support for small-to-medium sized businesses, enabling them to access discount loans aimed at improving energy efficiency and reducing emissions. The loans will support the uptake of a broad range of clean energy technologies, including electric vehicles, solar PV, batteries, and more efficient farming and building machinery.
‘We are pleased to continue supporting the CEFC as it rolls out much needed support for small-to-medium businesses to capitalise on the opportunities presented by more energy efficient products and services,’ said lead Partner .
‘This transaction showcases Allens’ depth of experience in the securitisation market and our commitment to working to support Australia’s energy transition.’
The Metro transaction follows on from Allens advising Angle Auto Finance on the CEFC’s investment as part of an innovative wholesale floorplan financing arrangement to accelerate Australia’s switch to electric vehicles (EVs), a key factor in achieving net zero emissions by 2050. This innovative transaction is the first known floorplan finance arrangement specifically targeting supply issues, one of the major barriers to the growth of Australia’s EV market.
