- Australia’s Clean Energy Finance Corporation invested a record $2.3 billion in 2024–2025, including $1.8 billion for key transmission projects.
- The funding boosts renewables and grid upgrades as the country races to meet its 2030 and net-zero goals.
Australia’s Clean Energy Finance Corporation (CEFC) invested a record $2.3 billion in renewable energy and grid infrastructure during the 2024–2025 financial year, more than doubling last year’s figures as the nation intensifies efforts to move away from fossil fuels.
The CEFC committed $1.8 billion through the Rewiring the Nation Fund, including up to $1.4 billion for the HumeLink and New South Wales section of the VNI-West transmission projects. The transaction marks the CEFC’s largest single investment since its launch.
“Australia requires ongoing investment in renewables, long-duration storage, affordable clean energy, and emission reduction,” said CEFC CEO Ian Learmonth. “This level of investment promises strong economic and local employment benefits across the country.”
The investment surge targets key barriers to Australia’s energy transition. While the government plans to close all coal-fired power stations by 2038 and reach 82% renewable generation by 2030, Wood Mackenzie forecasts the country will only hit 58% by the decade’s end.
Australia’s dependence on coal has made it one of the world’s highest per-capita emitters. BloombergNEF estimates the country needs to invest $39 billion annually until 2030, 2.6 times current spending, to stay on track for net zero by 2050.
In the same financial year, the CEFC deployed $1.9 billion in new capital across other sectors. Since its inception, the agency has committed $11.9 billion, leveraging $55.7 billion in clean energy project investments.
The record-setting year underscores the scale of Australia’s clean energy challenge while highlighting the economic opportunities emerging from the shift to renewable power.