While the CEFC has considerable capital to invest, we remain a relatively small organisation in terms of the number of employees.
Key organisational activities include investment origination, transaction execution, portfolio and asset management, support for early stage innovative technologies and financing projects, legal, finance, compliance and risk management, marketing and communications, investment research, stakeholder relations, people and culture, and administrative functions.
The CEFC began the financial year with a refreshed organisational structure and the creation of a dedicated Clean Futures Team. This team was formed to facilitate the development of a market for firming intermittent sources of renewable energy generation and to support emerging and innovative clean energy technologies. At the end of its first year, the Clean Futures Team is fully operational with the right capability in place, including a new Hydrogen platform lead. The Team has made significant progress in building networks across industry to facilitate collaboration. It has also progressed work in identifying and shaping longer term investable opportunities in the electricity grid and renewable energy zones, emerging technologies such as storage and hydrogen, non-energy emissions, and nation building projects such as interconnectors. The Clean Futures Team works closely and collaboratively with the Clean Energy Innovation Fund Team and our Investment Team, which has a continuing focus on accelerating investment in near term emissions reduction opportunities across multiple sectors of the economy.
During the reporting period, the CEO’s term was extended for a period of three years to 14 May 2023. The CEFC appointed a new General Counsel and Company Secretary to the Executive Team. In addition, the Marketing and Communications Team now reports directly to the CEO.
The CEFC has two subsidiaries, with 100 per cent of the issued share capital held by the CEFC. These are CEFC Investments Pty Limited (ACN 616 070 430) and Clean Energy Investment Management Pty Limited (ACN 628 443 854).