Australia’s green bank will prioritise storage and grid stability in FY20

July 30, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
Of the A$5 billion (US$3.4 billion) that spent by the CEFC since 2012, $560 million (US$385 million) has been repaid. Source: Tim Swinson / Flickr

Australia’s state-run renewable energy financier, Clean Energy Finance Corp (CEFC) will shift gears over the next 12 months to prioritise investments in grid stability and large-scale energy storage, according to its latest funding update.

CEFC CEO Ian Learmonth said that the federal green fund's investments will “increasingly target new technologies where there is less appetite from mainstream investors – including pumped storage and large-scale batteries, behind-the-meter generation and grid solutions.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

An investment update released Tuesday revealed that the CEFC invested A$1.5 billion (US$1.03 billion) throughout the 2019 financial year, roughly A$800 million (US$550 million) less than in 2018.

Learmonth said that the “expected” drop reflected grid and transmission constraints as well as broader market conditions, including Australia meeting its 2020 renewable energy target.

Two CEFC records were broken during the 2019 financial year, which runs from July to July in Australia. More money went to the clean energy sector than ever before, at $1.3 billion (US$893 million). A record-breaking total of A$320 million (US$220 million) of financing was repaid to the state-run green bank over the financial year – testament, according to Learmonth, of the CEFC's “ability to earn a positive return on our investments and reinvest our finance on behalf of the Australian community.”

Of the A$5 billion (US$3.4 billion) that spent by the CEFC since 2012, $560 million (US$385 million) has been repaid.

Read Next

Sponsored
October 23, 2025
Tongwei's rooftop-focused TNC 2.0 G12R-48 module will be among the products on show at All Energy Australia next week.
October 23, 2025
Solar PV technology has maintained its leading position as the most cost-competitive power generation source in 2025, according to analyst Wood Mackenzie.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
October 22, 2025
Ingeteam’s Mauro Rivola discusses the rapidly growing appetite for co-located solar and storage in Southern Europe.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal