The Australian maritime sector will move a step closer to decarbonisation thanks to a $70 million investment from the Clean Energy Finance Corporation (CEFC).
The investment will use green finance to steer the hard to abate industry toward lower emissions.
Shipping makes a significant contribution to the world economy. It is one of the most cost-efficient methods of goods transport but also one of the most emissions intensive.
In 2021-22, Australia's domestic maritime sector emitted around 2 million tonnes of climate pollution.
The $70 million CEFC commitment to Flinders Port Holdings (FPH) is the first CEFC direct finance in the maritime sector and the first green financing of container stevedoring operations in Australia.
The CEFC capital will finance electrification initiatives across FPH's 7 South Australian ports. This includes:
- installing solar systems
- replacing internal combustion light vehicles with electric vehicles
- investigating the use of an all-electric crane at the Flinders Adelaide Container Terminal at Port Adelaide
- investigating how berthed ships at the port can be connected to the grid rather than relying on expensive diesel bunker fuel.
