The Australian government’s Clean Energy Finance Corp (CEFC) has committed A$100 million ($72 million) to Australian Renewables Income Fund (ARIF), managed by Australian asset manager Infrastructure Capital Group (ICG). It represents an almost 40 percent increase in the CEFC’s renewables equity portfolio, which now stands at A$355 million ($242 million). It is the company’s largest equity investment in renewables, with a commitment designed to encourage institutional investors to further lift their exposure to renewables.
ARIF will focus on proven large-scale wind and solar technologies, as well as emerging opportunities in energy-from-waste, large-scale battery storage and pumped hydro.
The CEFC has committed more than $2 billion in debt finance to accelerate the development of almost three gigawatts of renewable energy since it began investing in 2013.