Clean Energy Innovation Fund
The Clean Energy Innovation Fund is targeting a diversified portfolio of Australian-based clean energy investments with a long term commercial outlook. This includes technologies and businesses that have passed beyond the research and development stage, but are not yet established or of sufficient maturity, size or otherwise commercially ready to attract sufficient private sector capital.
These activities can benefit from growth or early stage capital to help them get to the next stage of their development. Eligible investments span renewable energy, energy efficiency and low emissions technologies.
The Clean Energy Innovation Fund became operational on 1 July 2016, following changes to the CEFC Investment Mandate announced in 2015-16.
The CEFC will make finance available for Innovation Fund-related investments, drawing from the CEFC’s $10 billion funding pool. The Innovation Fund is operated in consultation with ARENA, drawing on the complementary experience and expertise of the two organisations.
The Innovation Fund will provide debt and/or equity finance for innovative clean energy projects which support renewables, energy efficiency and low emissions technologies.
As part of its activities, the Innovation Fund also provides opportunities for private and institutional financiers to support innovative clean energy investments through co-investment opportunities. The Innovation Fund does not make grants.
Looking to the future
The Innovation Fund has drawn strong investor interest and the CEFC is committed to working quickly to accelerate investment into eligible projects. Investments will be reported in a timely manner as they are finalised.
Investment proposals are jointly assessed by the CEFC and ARENA, with ARENA providing expert technical review. Final approval is provided by the CEFC Board, which is responsible for all investment commitments made under the CEFC Act.