CEFC notches up $10 billion investments in clean energy

Almost 10 years after being established to increase investment in clean energy, the Clean Energy Finance Corporation has now committed more than $10 billion to the task.

CEFC CEO Ian Learmonth went on social media top express his pride in the achievement and its contribution to pushing Australia to net zero emissions by 2050.

Learmonth said: “Importantly, we are well equipped to continue our good work.

“The CEFC has considerable headroom for ongoing investment, with access to a further $4.6 billion from our original $10 billion allocation from the Australian Government.

“So even as we celebrate our $10 billion achievement, we are looking ahead, with a strong pipeline of investments and plenty of capital to actively pursue new opportunities for decarbonisation.”

Learmonth said CEFC capital was driving down emissions across the economy in renewable energy, electricity infrastructure and grid transformation, transport, manufacturing, agriculture, resources and property.

“And our support for homegrown cleantech entrepreneurs and emerging technologies such as hydrogen will help Australia ride the wave of opportunity that the clean energy sector offers.

“Galvanized by the urgency of our task, CEFC investment activity is stronger than ever, reflected in an extremely productive six months to December 2021 that saw us make almost $1 billion in new investment commitments across 20 transactions.

“Over the same six-month period, we deployed a record $1.1 billion capital across the economy, a direct contribution to economic activity.”

Learmonth said CEFC had reached the latest milestone through the cooperation and hard work of co-investors, clean energy entrepreneurs, renewables developers, corporate Australia large and small, energy regulators, ARENA, the CER as well as the Australian and state Governments.

Learmonth said: “This work is incredibly rewarding – we are trying to overcome one of the biggest challenges currently facing the world and we see the positive impact of those efforts every day.

“The latest report from the IPCC reminds us that we have little time to act. With that urgency in mind, we tackle our work with great energy and commitment, knowing that we are delivering on behalf of all Australians.”

Picture: Ian Learmonth

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