The Clean Energy Finance Corporation (CEFC) announced on Monday that it has secured a record $2.29 billion investment in renewable energy and grid infrastructure for the 2024-2025 fiscal year.  

This funding, more than double the amount from the previous year, marks a significant milestone in Australia’s commitment to transitioning to cleaner energy and meeting its national emissions targets. These significant figures are part of a broader $3 billion total commitment by the CEFC last fiscal year, as the green bank intensifies its efforts to meet Australia’s 2030 and 2050 climate targets. 

As stated, the green bank has a mandate to “facilitate increased flows of finance into the clean energy sector and to facilitate the achievement of Australia’s greenhouse gas emissions reduction targets”.  

A key component of this new investment is a $1.83 billion program aimed at modernizing and expanding Australia’s national electricity grid. This includes $1.37 billion for a new transmission link along the east coast, which will play a vital role in enhancing the nation’s renewable energy capabilities. 

Ian Learmonth, CEO of the Clean Energy Finance Corporation, emphasized Australia’s need for continuous investment in renewables, long-duration storage, and efforts to make clean energy more affordable for consumers while reducing emissions. 

This historic funding boost addresses concerns over Australia’s ability to meet its climate commitments. While Australia remains one of the highest per-capita carbon emitters globally, due to its coal-dependent energy sector, the nation has pledged to phase out all coal-fired power stations by 2038. Furthermore, Australia aims to generate 82% of its electricity from renewable sources by 2030. However, projections from Wood Mackenzie, a leading research firm, suggest the country is currently on track to achieve only 58% renewable electricity generation by the end of the decade. 

Source: 

https://esgnews.com/australias-green-bank-hits-record-2-3-billion-in-clean-energy-investments/ 

https://www.reuters.com/sustainability/cop/australias-green-bank-makes-record-23-billion-clean-energy-investments-2025-07-28/