Steven Skala, new chair of the CEFC

Media reports were effusive last week in welcoming the Clean Energy Finance Corporation’s new chair, investment banker and former ABC director Steven Skala, who will replace Jillian Broadbent at the conclusion of her five-year term.

The appointment, made by the Turnbull government, was seen as a big relief by the renewable energy industry after the previous government under Tony Abbott attacked clean energy and climate bodies wherever possible. It tried but failed to destroy the CEFC. Instead, the “green bank” stood firm throughout, committing to around $11 billion of clean energy projects at last count.

CEFC Chief executive Ian Learmonth said last week:

Minister Frydenberg and Minister Cormann have today announced Mr Steven Skala AO as the new Chair of the CEFC Board, with Ms Leeanne Bond, Ms Samantha Tough and Ms Nicola Wakefield Evans also joining the CEFC Board:

These new appointees bring an enormous level of experience and skill to the CEFC. We look forward to working with the new Board in the future, alongside our continuing Board members, Mr Martijn Wilder and Mr Paul Binsted.

The CEFC recognises the contribution of Ms Jillian Broadbent AO as our founding chair, as well as departing Board members Ms Anna Skarbek, Mr Ian Moore and Mr Andrew Stock.

The CEFC has benefited enormously from their commitment, passion and expertise since we began investing, and they leave an enduring legacy for the CEFC and the Australian clean energy sector.

With the support of our founding Board, the CEFC has consistently delivered on our mission to increase investment into clean energy in Australia. This is clearly reflected in our investment performance for the most recent financial year, where we committed almost $2.1 billion to 35 individual transactions. CEFC investment commitments since inception have now contributed to clean energy projects valued at $11 billion.”