A supermarket fresh produce supplier in Wangaratta, Victoria, will install a 100 kW solar system at its refrigerated warehouses and cool-rooms.
Nu Fruit Pty Ltd will install the solar system using finance from the Commonwealth Bank (CBA) and Clean Energy Finance Corporation (CEFC) Energy Efficient Loan (EEL) program.
Wangaratta-based Nu Fruit Director Dean Campagna said the business had accessed approximately $220,000 through the Energy Efficient Loan, covering the upfront cost of installing the solar PV system.
“We have already invested in modern, high humidity refrigerated fresh produce warehouses and cool-rooms, but our electricity demands are still a key expense for us.
“This Energy Efficient Loan helps us by generating over 10 per cent of our own energy, reducing our grid electricity needs and benefiting from the long term savings of solar PV,” said Mr Campagna.
CEFC CEO Oliver Yates said “Many regional businesses have experienced significant energy cost increases and through this loan program we’re working with them to unlock energy productivity gains and cost reductions.
“This EEL finance for upgrades is targeted at helping accelerate many types of smart energy improvements, including new purpose built processing equipment, improved industrial ovens, refrigeration upgrades, energy efficient tri-generation equipment and solar PV installation.”
Energy Efficient Loan program
The CBA and CEFC are each providing $50 million towards the $100 million EEL which is designed to help businesses, particularly those from the manufacturing sector, upgrade equipment to reduce energy costs.
The loans are typically for amounts over $500,000 and can be used to finance up to 100 per cent of the purchase price, allowing businesses to preserve working capital for other purposes.
An apple and pear supplier, Radevski Coolstores, in the Goulburn Valley, NSW, is also installing solar PV financed through the EEL product.
The CEFC recently announced it will provide up to $20 million to accelerate the uptake of large-scale commercial solar.