Australia's CEFC to invest $70m in clean energy fund

The fund will be managed by a separate entity known as Warada Capital, created by CEFC and Ironstone Capital, a local financial services advisory for the infrastructure, energy, and natural resources sectors. CEFC said it would take a 50% stake in the fund manager.

“Our investment in Warada will give the investment community access to a strong pipeline of clean energy investment opportunities, particularly those with an appropriate balance between investment returns, innovation and decarbonization,” Rory Lonergan, CEFC equity lead, said in a statement. “As an experienced equity investor, we can also help project proponents overcome early-stage capital constraints and positively shape emissions outcomes.”

Warada will invest in greenfield projects across a range of renewable energy and energy efficiency categories, as well as brownfield assets where there is a capacity to improve returns and sustainability through technology enhancements. Focus areas will include solar and wind power, energy storage, electricity network enhancements and the use of distributed energy technologies. Clean energy-related investments in natural resources, transport and agriculture will also be considered.

CEFC claims a A$1.2 billion portfolio across eleven fund managers. Last December, it contributed A$100 million to a renewable energy fund from Australia’s Infrastructure Capital. Previous activity also includes a A$55 million investment in a solar farm controlled by UK private equity firm Foresight Solar Fund. CEFC also contributed to the Clean Energy Seed Fund, which is managed by Artesian Venture Partners and focused on internet-of-things, energy storage, biofuels and alternative energy generation.

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• Topics
• Australasia
• Cleantech
• Infrastructure
• Fundraising
• Australia
• energy