Australia’s CEFC Invests $72 Mn in Renewables Fund

This is the largest equity investment ever made in renewable energy in Australia with an aim to encourage institutional investors.

Making a tremendous renewable energy push, Australia’s Clean Energy Finance Corporation (CEFC) has invested US $72 million (AU $100 million) in the Australian Renewables Income Fund (ARIF).

This is the largest equity investment ever made in renewable energy in Australia with an aim to encourage institutional investors to expand their reach in clean energy sector.

ARIF will focus this fund on large scale projects of wind and solar, large scale battery storage and other emerging opportunities.

CEFC’s renewable energy portfolio now stands at AU $355 million, and the investment in ARIF represents 40% of that investment. The asset will be managed by Infrastructure Capital Group (ICG).

“It’s been exciting to see Australia’s renewable energy sector achieve significant growth in recent years, delivering substantial new investment in regional Australia and producing lower cost and cleaner electricity,” said CEFC CEO Ian Learmonth.

He further added that, “Our investment in the Australian Renewables Income Fund is about creating new opportunities for institutional investors to take a larger role in our clean energy transition.”

ICG Managing Director Tom Laidlaw said, “ARIF offers investors access to a high-quality portfolio of operating renewable energy assets and a platform for future growth in the sector. It is a portfolio that has been built over an extended period and is designed to provide investors with a diversified exposure across the sector.”

Clean Energy Finance Corporation has debt financed more than $2 billion worth of projects since it started investing in 2013.

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