Monique Miller, CEFC Chief Investment Officer – Renewables and Sustainable Finance said: “Australia has set very ambitious renewable energy goals as part of our national commitment to reach net zero emissions by 2050. This requires a substantial and sustained increase in investment in additional renewable energy generation, presenting exciting opportunities for private investors such as Infradebt’s managed funds and clients. This CEFC investment, with its focus on smaller scale generators, complements our focus on large-scale solar and wind generation, essential energy storage and grid transmission, all of which will play a critical role in powering our net zero future.”
Infradebt media release
26 April 2023
CEFC increases mandate commitment with Infradebt
The Clean Energy Finance Corporation (CEFC) has increased its existing mandate commitment with Infradebt from $50 million to $150 million. Under the expanded mandate, established in 2019, the CEFC will coinvest alongside Infradebt managed funds in small to medium sized renewable energy projects. The mandate’s investment universe has been extended to include larger projects up to 50 MWac, from the previous 35 MWac.
The additional CEFC commitment will play a significant role in driving private sector investment in the small to mid-market renewables space where there has been a traditional funding gap. Through its investment mandate with Infradebt, the CEFC is able to leverage Infradebt’s deep sector knowledge to efficiently finance these small to mid-sized projects.
Infradebt’s flagship Infradebt Ethical Fund (IEF) is a screened infrastructure debt fund that finances Australian infrastructure projects with a focus on renewable energy and social infrastructure. The expanded CEFC mandate will see Infradebt invest alongside IEF as well as other clients in vital new renewable generation. In addition to IEF, Infradebt recently launched a fund focused solely on grid scale energy storage – the Energy Transition Fund (ETF).
Alexander Austin, CEO of Infradebt said: “Infradebt is proud of its work with the CEFC and the nine projects that have been financed under the existing mandate. Infradebt welcomes the increased mandate commitment from the CEFC. This capital will boost Infradebt’s capacity to continue to provide debt finance to Australian renewable projects.”
