New Energy Solar (ASX:NEW) has inked a deal with the Clean Energy Finance Corporation (CEFC) for the establishment of a new $50 million acquisition facility.
The solar energy business will use the facility to boost growth in the Australian market.
New Energy Solar recently announced the acquisition of its first solar plant in Australia, Manildra.
The facility will enable the company to acquire further Australian assets.
CEO John Martin said he is looking forward to seeing further growth in investment in Australian renewables.
Shares in New Energy (ASX:NEW) are trading up 0.68 per cent to $1.49