Ampol and CEFC Partner to Decarbonize Australia's Transport Sector
Key Ideas
  • CEFC commits $100 million to Ampol to finance clean energy initiatives and decarbonize the emissions-intensive transport sector in Australia.
  • Ampol's infrastructure and supply networks will be leveraged to support the transition to cleaner alternative fuels, including electric vehicle charging and green hydrogen refueling infrastructure.
  • The transport sector accounts for 23% of Australia's greenhouse gas emissions, making decarbonization crucial, especially with freight predicted to grow by 26% by 2050.
  • While Australia has seen a rapid uptake of electric vehicles, the charging infrastructure lags behind, highlighting the need for investment in clean technology measures in the sector.
The Clean Energy Finance Corporation (CEFC) has partnered with Ampol, a major fuel supplier in Australia, by committing $100 million to finance clean energy initiatives. The investment aims to utilize Ampol's infrastructure and supply networks to decarbonize the emissions-intensive transport sector in Australia, which is projected to be the largest source of greenhouse gas emissions by 2030. CEFC's CEO, Ian Learmonth, emphasized the importance of established industry players like Ampol in transitioning to cleaner alternative fuels. The investment will focus on implementing various clean technology measures at Ampol service stations nationwide, including the rollout of electric vehicle charging and green hydrogen refueling infrastructure, solar panel installations, and development of biofuels and sustainable aviation fuel. The transport sector, responsible for 23% of Australia's total greenhouse gas emissions, is experiencing rapid growth, especially in freight, making decarbonization efforts crucial. Despite the significant increase in electric vehicles in the country, the charging infrastructure remains insufficient, with only 812 stations, indicating a need for further development in this area. The partnership between CEFC and Ampol signifies a step towards a more sustainable and renewable energy-powered transport network in Australia.
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