Announcing our new Renewable Energy Loan lending market, $20m kickstart from Clean Energy Finance Corporation

by Ben Milsom

Today we’re delighted to announce the launch of our new Renewable Energy Loan lending market.

This new market will allow RateSetter lenders to invest in loans to fund the purchase and/or installation of clean energy products.

To kickstart the launch of this market, we are delighted to announce the Government’s Clean Energy Finance Corporation (CEFC) has approved a $20 million investment into the Renewable Energy Loan lending market. This marks the first investment by an Australian Government body through an Australian peer-to-peer lending platform.

Loans facilitated through the new lending market are for an indicative term of 7 years and will fund individual and business loans for a wide range of green purposes including solar panels and battery systems, energy efficient lighting, emissions reducing industrial applications and electric and low-emission cars and trucks.

For lenders, the Renewable Energy Loan lending market provides a simple way to invest directly in clean energy products. We think that the opportunity to earn attractive, sustainable returns, while helping improve the country’s energy footprint, will be a compelling option for many investors, both large and small.

For borrowers, this new marketplace will provide affordable finance for clean energy products, thereby incentivising the uptake of clean energy technologies.

Daniel Foggo, CEO of RateSetter, said “We’re excited to be providing investors with exposure to a hard-to-access asset class that delivers attractive, stable returns, whilst supporting the environment. We’re also delighted to have support from CEFC, an important Government organsiation, as we look to deliver attractive financing options to our borrowers.

“There is also a nice symmetry to this support from the CEFC, as it was at a similar stage of its evolution that the RateSetter Group in the UK benefited from its Government investing via its platform to help support SMEs grow their businesses.”

See section 15 of our Product Disclosure Statement for more details on the Renewable Energy Loan lending market, including a list of Approved Green Products.

The information contained in the RateSetter blog does not constitute financial product advice and has been prepared as general information only without consideration for your particular investment objectives, financial circumstances or particular needs. As with all investments, before you decide to invest you should familiarise yourself with the key investment risks and read the Product Disclosure Statement.

No responsibility or liability is accepted by RateSetter or its related entities for any errors or omissions or misstatements however caused or arising. Any opinions, forecasts or recommendations reflect the judgment and assumptions of RateSetter and its representatives on the basis of information at the date of publication and may later change without notice.

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