Australia boosts clean energy funding by $2b

CEFC invested more than $4b in 2024.

Australia is setting aside additional $2b to the Clean Energy Finance Corporation (CEFC) to fuel the shift to renewable energy sources in the country.

In a statement, authorities said the new investment is provisioned for in the Mid-Year Economic and Fiscal Outlook.

In 2024, the CEFC invested more than $4b in local projects, unlocking around $12b in private investment that went to regional areas, local Australian manufacturers and industry, and supported over 4,000 jobs.  

It also has a critical role in Australia’s emissions reduction targets with its finance helping projects that ensure the country’s overall emissions continue to decrease. These include the Neoen Culcairn Solar Farm that is expected to power 160,000 homes, and the Collie Battery Stage 2.