CEFC achieves 1GW solar investment milestone

Facebook
Twitter
LinkedIn
Reddit
Email
Clean Energy Finance Corporation, Australia.

Australia’s Clean Energy Finance Corporation (CEFC) has reached 1GW of solar capacity investments across 20 large-scale projects since 2013 with a total investment of AU$898 million (US$689 million).

The investment milestone was reached by the committing of AU$207 million (US$158.7 million) in debt finance for 200MW of additional solar capacity across two developments with Wirsol Energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Monique Miller, CEFC large-scale solar director, said: “Increasing the amount of renewable energy generation in our electricity mix is essential for the Australian economy to achieve net zero emissions in the second half of the century.”

The additional 1GW is equivalent to power used to generate approximately 375,000 homes, reducing carbon emissions by an estimated 1.8 million tons every year.

The newest developments are the 110MW Wemen Solar Farm in Victoria where AU$110 million has been committed in senior secured debt and the 90MW Clermont Solar Farm in Queensland with up to AU$97 million committed.

Niall Brady, CEFC transaction lead, said: “The CEFC's role as sole debt financier would enable Wirsol to begin construction on the two projects as early as January 2018, before having secured a Power Purchase Agreement (PPA) for the solar output”. 

The latest investment development collectively will produce enough electricity to supply 65,000 homes.

Mark Hogan, Wirsol managing director, said: “We see strong potential for renewable energy in Australia, and these two projects are an important part of our evolving large-scale solar portfolio.” 

Overall, CEFC investment has supported projects across Queensland, New South Wales, Victoria and Western Australia.

The Australian renewables industry in 2017 committed to 50 large-scale projects totalling 4,670MW capacity with AU$9.3 billion invested.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

Premium
July 8, 2025
In the latest NEM data spotlight, solar generation in Australia reached its yearly lowest month, while rooftop solar prices spiked to AU$225.57/MWh.
July 7, 2025
In Europe, PV panel prices fell marginally between May and June, leading to a slight downturn in European module buyers’ market confidence.
July 4, 2025
Chinese PV provider Skycorp Solar Group has announced a solar plant acquisition and development strategy following unanimous board approval.
July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
July 2, 2025
A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK