NAB Energy Efficient Bonus

The CEFC is providing up to $120 million through the National Australia Bank (NAB) for a major new investment program to incentivise Australian businesses to cut their energy and operating costs and lift business performance.

Project Scope

With the support of the CEFC, NAB is offering equipment finance customers a 0.7 per cent per annum. discount on the funding of qualifying energy efficient assets.

The program is designed to help accelerate the switch to greener vehicles, as well as help businesses upgrade industrial and agricultural equipment and increase their uptake of solar. The program is available across a broad commercial base, with a particular emphasis on agribusiness and regional Australia.

The program is financing both small and large projects, up to $5 million, and can be used for:

  • Upgrading light and heavy vehicles
  • Improving manufacturing and agricultural plant and equipment, including irrigation equipment
  • Installing solar PV or solar pumps
  • Upgrading buildings to significantly cut energy use and/or improve NABERS ratings
  • Installing biogas and waste-to-energy equipment
  • Upgrading industrial and commercial refrigeration

Looking to the future

In its first few months in the market, the NAB Energy Efficient Bonus program has financed around $20 million in loans to a range of agribusinesses, manufacturers and other commercial businesses. Two investments include:

  • A 3,500 hectare NSW farm has financed a new pump with a high-efficiency engine and variable speed drive that matches the engine speed to the load, resulting in diesel fuel savings of four litres for every hour of operation, a substantial saving on the farm’s annual machine use of 2,500 hours

  • An Australian-owned private company which supplies quality fabricated steelwork to the building and mining industries has invested in energy efficient equipment to cut, drill and weld steel, cutting energy costs, speeding production times and helping the business improve its export competitiveness.

We’ve been working with customers to help them manage their natural capital risk for some time and we know that energy risk is a key concern. It’s great to be able to help them address this concern with the support of the CEFC.” Executive General Manager, NAB Business, Cindy Batchelor
Image courtesy of Irrigation Australia Image courtesy of Irrigation Australia