Sydney-headquartered green bank, the Clean Energy Finance Corporation’s (CEFCs) annual report shows it made a record $4.7 billion (USD 3.1 billion) in investment commitments in 2024-25, more than 2.5 times the previous year’s commitments.
Tabled in Parliament, the report outlines records in transmission infrastructure, renewable energy, natural capital, household energy efficiency and climate technology.
In the 12 months to 30 June 2025, the CEFC says it also led a $25.7 billion uplift in new investment toward net zero, on the back of the record $4.7 billion.
CEFC Chief Executive Officer Ian Learmonth said by working alongside co-investors – and specifically not competing with them – the CEFC capital is shaping new investment models and providing market certainty in a manner that recognises the urgency of the climate challenge.
“We see evidence that investors are adjusting to a ‘new normal’ across the broader investment landscape. We recognise the considerable investment opportunities ahead, across energy generation, carbon sequestration, and the electrification of transport, all major emissions drivers,” Learmonth said.
Renewable Energy
The FY2024/25 saw the CEFC make a $100 million commitment to support Canadian investor Brookfield Corporation-owned France-based developer Neoen’s Western Australia (WA) Collie Battery Stage 2 construction, the Western Downs Battery Stage 1 in Queensland, and the Culcairn Solar Farm in New South Wales (NSW), located 526 kilometres southwest of Sydney.
As well, $90 million was committed to Spanish developer Fotowatio Renewable Ventures’ (FRVs) Australia pipeline, which includes the 100 MW / 200 MWh Terang battery project in Victoria.
The CEFC committed $25 million, $15 million, and $3 million respectively to Energy Locals to assist apartment dwellers, aged care facilities and commercial sites access rooftop solar, the Climate Tech Partners Fund to boost start ups developing clean energy technology, and EcoJoule Energy to support its power management products and software solutions for the growth of distributed energy.
The two largest ever transactions were in transmission, through the Rewiring the Nation Fund, included $1.35 billion for the construction of Humelink, that will link the greater Sydney electricity load centre with significant energy infrastructure.
These include the Snowy Mountains Hydroelectric Scheme (Snowy 2.0), EnergyConnect and the Victoria to NSW Interconnector West (VNI West), that will deliver up to 2,000 MW of pumped storage, while the firming capacity will enable transmission of an additional 2,570 MW of renewable energy.
Central West Orana Renewable Energy Zone
In the FY2024/25, the Central West Orana Renewable Energy Zone (CWO REZ) saw a CEFC $750 million commitment in concessional debt finance, reducing consumer nominal term costs by an estimated $130 million.
“With an intended network capacity of 6 GW, the CWO REZ will initially operate at 4.5 GW, supporting the grid connection of 7.7 GW of solar, wind and battery storage capacity, equivalent to powering more than 2.7 million homes,” the report notes.
“The additional capacity will see the REZ play a vital role in the delivery of the NSW Energy Infrastructure Roadmap, which is targeting at least 12 GW of additional renewable energy generation and 2 GW of new long-duration storage by 2030.”
Image: EnergyCo
$33 billion capital for clean energy transition
CEFC investment capital was increased by $2.65 billion in the reporting year and it now has access to more than $33 billion in capital from the Australian government to catalyse the flow of capital into the clean energy transition.
Since inception to 30 June 2025, CEFC investments have drawn in an additional $65 billion in private sector and third-party capital across more than 400 large-scale transactions, delivering a total transaction value of $85.3 billion.
CEFC Chair Steven Skala said as the world transitions to net zero, Australia’s ability to draw on its comparative advantage in renewables and clean energy should, over time, add to the nation’s prosperity.
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