Australia, Japan Banks Partner for Net Zero Acceleration

CFEC and JBIC has signed a memorandum of understand to develop and fast-track key industries for clean energy.

A 2,500 cubic-meter tank containing liquid hydrogen at Kobe Port Island plant in Kobe, Japan on Oct. 26, 2020. The special shipping terminal has been built in order to import liquid hydrogen from Australia. Etienne Balmer/AFP via Getty Images

Australia’s government-owned Clean Energy Finance Corporation (CFEC) has signed a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to boost the development of key industries and technologies that can potentially fast-track the deployment of and make use of clean energy.

Under the MOU, the two financial institutions will look into co-investment opportunities in Australia and share knowledge and expertise to support and accelerate investment in the clean energy transition in Australia and Japan.