The Clean Energy Finance Corporation (CEFC) has recorded its most substantial investment year to date, committing $4.7 billion in 2024–25 and catalysing $25.7 billion in total transaction value across 43 deals targeting the energy transition.
The record capital injection – 2.5 times the previous year’s commitments – was led by large-scale renewable energy and grid infrastructure, with $3.5 billion directed to new generation and transmission capacity.
It marks the single largest annual deployment in CEFC’s history and underscores an intensified effort to meet national decarbonisation targets by 2030.
At the centre of the investment year was a $2.8 billion allocation through the Rewiring the Nation (RTN) Fund, including up to $2.075 billion for construction of the HumeLink and the NSW segment of VNI-West interconnector.
Together, these projects form a foundational component of the east coast’s emerging “clean energy superhighway”, enabling grid capacity for significant new renewable generation.
“This poses a once-in-a-generation challenge as well as an economic opportunity,” said CEFC CEO Ian Learmonth.
“With CEFC investment leading the way, the country can continue to benefit from Australia’s abundant clean energy resources.”
Other RTN-backed investment included up to $750 million for the Central-West Orana Renewable Energy Zone (REZ), supporting development of transmission to unlock as much as 7.7 GW of renewable capacity.
Outside transmission, CEFC deployed $2.9 billion in capital across key priority areas including residential energy upgrades, low-emissions transport, green finance for agriculture, and early-stage climate technology ventures. The deployment brought its total capital put to work since inception to $14.6 billion.
Under the Powering Australia Technology Fund (PATF), CEFC committed $93 million to climate tech companies, helping generate $404.4 million in co-investment. Notable transactions included $25 million to Energy Locals to deliver solar, storage and electric vehicle infrastructure to apartments and aged care facilities.
In the property sector, CEFC invested $100 million into a build-to-rent platform managed by AXA IM Alts, expected to deliver up to 3,000 fully electric apartments in metro employment hubs.
The Household Energy Upgrades Fund (HEUF) also scaled, with $305 million in CEFC commitments unlocking $610 million in green home loans – including $160 million to Westpac’s Sustainable Upgrades Home Loan offering.
Since inception, CEFC has made $18.3 billion in lifetime commitments, mobilising $85.3 billion in clean energy investment. Its capital leverage reached $4.14 for every dollar committed in 2024–25.
While the 2024 surge marks progress, BloombergNEF analysis suggests Australia must triple current annual investment levels to meet 2050 net zero targets.
“Even with the considerable investment run rate of the past decade, Australia requires ongoing investment in renewables and long-duration storage, clean energy affordability for consumers and measures to cut emissions in ‘hard-to-abate’ sectors,” Learmonth said.