The Clean Energy Finance Corporation is an Australian Government-owned green bank founded in 2012 to support the shift to a low-carbon economy. It focuses on reducing emissions and aims for net zero by 2050 while delivering financial returns for taxpayers. Since beginning investments in 2013, it has committed $17.7 billion across more than 380 large-scale projects, mobilizing a total transaction value of $71.5 billion and leveraging an average of $3.01 in private finance for every public dollar. CEFC operates with access to over $32 billion from the federal budget.
It provides funding across renewable energy, grid connections, energy storage, efficiency upgrades, natural systems, sustainable transport, and decarbonization in industry and resources. The corporation designs discounted finance programs for households and businesses, and supports cleaner farming, building, manufacturing, and mining practices. Specialized funds include the Rewiring the Nation Fund, the Household Energy Upgrades Fund, the Advancing Hydrogen Fund, and a joint agriculture emission pathfinder with CSIRO. These initiatives help scale emerging solutions and lower costs for participants in the transition to a clean energy system.
A key pillar is backing climate technology, especially in battery storage and related systems. The $500 million Powering Australia Technology Fund accelerates homegrown innovators such as EcoJoule Energy, which deploys grid-firming batteries. Through the $200 million Clean Energy Innovation Fund, CEFC and its fund manager Virescent Ventures support startups that advance energy storage performance and reduce costs. Direct investments include $9 million in Relectrify’s advanced battery control platform. Co-finance partnerships with institutions like NAB, Goldman Sachs Alternatives, and Credabl further extend affordable green finance across sectors.
