CEFC becomes AU$1 billion solar investor, sees new equity opportunities

Facebook
Twitter
LinkedIn
Reddit
Email
CEFC is seeing new opportunities to invest in projects as an equity partner. Credit: CEFC

The Clean Energy Finance Corporation (CEFC), which was once on threatened with abolition under the government of former prime minister Tony Abbott, has now surpassed AU$1 billion in financing for solar projects amounting to 1.4GW of PV capacity across Australia.

The milestone was reached with CEFC's third equity investment in large-scale renewables, a AU$51 million stake in Total Eren's 200MWac Kiamal Solar Farm in Victoria, as reported by PV Tech yesterday. The body's earlier equity investments included Queensland’s Ross River Solar Farm and Tasmania’s Granville Harbour Wind Farm.

Prior to its equity investments, CEFC's financing had predominantly come in the form of debt financing.

Regarding Kiamal, CEFC CEO Ian Learmonth said: “This exciting project will contribute to a stronger and more reliable grid, able to accommodate an increasing share of low emissions solar energy in the future.

He added: “While Australia’s world-leading potential in solar energy is well known, the reality is that we require considerable new investment to take advantage of this low cost and low emissions energy resource. The CEFC continues to play a central role in working alongside exciting new investors such as Total Eren as a way of increasing the flow of capital into our clean energy transition. We’re also seeing new opportunities for the CEFC to invest in projects as an equity partner, allowing us to diversify our own investment portfolio for the longer term.”

Last December, CEFC made an equity investment of AU$100 million (US$72 million) in the Australian Renewables Income Fund (ARIF), aiming to encourage institutional investors to further expand their reach into clean energy.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

September 28, 2022
Queensland gets about 21% of its energy from renewables, but the state government has just set an increased target of 70% renewables by 2032.
PV Tech Premium
September 23, 2022
Plans for a temporary revenue cap on solar PV assets across the European Union (EU) could dent investor confidence in renewables, experts have warned, amid concerns that individual member states may be able to set lower caps specific to different technologies.
September 22, 2022
Tech major Amazon has expanded its renewables portfolio globally with 71 new projects with a total capacity of 2.7GW.
September 21, 2022
A new consortium has been formed in Queensland with a MOU to build a green ammonia corridor between Australia and Korea.
September 20, 2022
From module makers and BOS producers to utility-scale developers and community solar companies, the Inflation Reduction Act (IRA) has taken centre stage at this year’s RE+ in Anaheim, California.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)