Clean Energy Finance Corporation boss Ian Learmonth has named grid projects and storage among critical areas for the green bank to help the energy transition.
The head of Australia’s green bank has foreshadowed stepping up the organisation’s investments in the power grid, batteries and hydrogen as it embarks on its second decade of its multibillion-dollar job to support the transition of the economy to low-carbon energy.
The CEFC committed $10.76 billion in clean energy and decarbonisation projects over its first 10 years, providing a catalyst for $37.15 billion of investment from institutional investors, business and clean tech innovators. , “we would also see the renewable energy zones around the countryside as also in the sights of what the CEFC would be working on”.
Last financial year included $455 million of investment in grid infrastructure, including the last piece of financing for Project EnergyConnect, the new $2 billion power cable to be built between South Australia and NSW, andSome $41 million went on three transactions in large-scale renewables and storage, almost $165 million in green bonds transactions, and $17.5 million in emissions reductions in resources, including a hydrogen hub and heavy-duty hydrogen trucks.
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