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NAB maintains its faith in renewable energy


Source: SMH, 19 Jul 2015

The country's largest financier of renewable energy projects, National Australia Bank, has said it plans to lend more to the sector despite it being thrown into turmoil last week when Prime Minster Tony Abbott ordered the Clean Energy Finance Corporation (CEFC) to stop putting funds into wind power.

NAB's head of debt capital markets, Steve Lambert, said the domestic politics around wind power is "noise, but you have to try to look [past that]" and said in the absence of local deals, NAB will continue to back projects overseas, and intends to become one of the world's leading banks in renewable energy financing.

"NAB's ambition is to be world leader in this space. We want to provide the renewable energy sector with access to innovative, new funding sources," Mr Lambert said.

NAB has commitments to renewable energy projects totaling $1.6 billion, spread over 29 deals.

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