The CEFC achieved a record year for investments in renewable energy and grid-related investment commitments in 2022-23, proving the race to net zero is well under way.
Investment update 2022-23
August 2023
The CEFC made $1.9 billion in new investment commitments in the 2022-23 year, including a record $1.2 billion in renewable energy and grid-related commitments. As Australia’s ‘green bank’ we welcomed a substantial lift in our capital allocation to $30.5 billion and heightened expectations of us in our specialist role progressing Australia’s decarbonisation.
Read moreOur investment
The CEFC completed 30 new and 20 follow-on transactions in the 2022-23 year, confirming $1.9 billion in new investment commitments with a total transaction value of $11.7 billion.
Lifetime CEFC commitments were $12.7 billion across more than 300 large-scale transactions to 30 June 2023. Together with our co-investors, the lifetime total transaction value reached $48.8 billion, underscoring our role as Australia’s ‘green bank’ in driving additional public and private investment in net zero ambitions.
Private sector leverage for CEFC investment commitments in the 2022-23 year reached an all-time high, with each $1 of CEFC capital attracting an additional $5.02 in additional capital.
This strong leverage reflects our investments in large-scale transformational projects, including a $100 million commitment to the NSW Waratah Super Battery, one of the largest standby network batteries in the world. We also made our single largest investment in a wind project, committing up to $222.5 million to Victoria’s 756 MW Golden Plains Wind Farm.
The strength of the CEFC investment approach is further evidenced by the repayments and returns which have averaged close to $1 billion for each of the past four years, allowing us to continue to reinvest capital from our original $10 billion allocation.
Investment of this scale is critical to our national goal of reaching 82 per cent renewables by 2030. With Australia’s renewables sector responding to complex global economic and supply chain pressures, we have confirmed our important role in using our capital to fill market gaps in the face of a difficult market for investors and developers.Ian LearmonthCEO, CEFC
