The Clean Energy Finance Corporation (CEFC) will soon make investments in the power grid.

CEFC Chief Executive Ian Learmonth says the organisation is actively involved in various grid-related projects as part of the Albanese government's “Rewiring the Nation” initiative. This initiative received an additional $19 billion allocation in June, allowing CEFC to work on projects like Humelink, connecting Snowy 2.0 to major load centres, and advancing renewable energy zones.

Despite challenges related to social licence and planning issues, the CEFC says it is determined to work closely with project proponents to address these concerns.

The lag in grid expansion is slowing down renewable energy growth and hindering the 2030 climate targets. 

In response, the CEFC allocated $1.9 billion to new investments last year, with a significant portion directed at clean energy projects facing cost inflation and supply chain disruptions.

Notable commitments included support for the Golden Plains wind farm and the Waratah Super Battery. 

The CEFC is also diversifying its portfolio beyond renewable energy, investing in innovative ventures like Splend to promote electric vehicles in the ride-share market.

The organisation's success in leveraging private sector capital reached new heights last year, attracting $5.02 in private capital for every $1 of CEFC funding.

Capital returns to CEFC in 2022-23 reached $1.2 billion, bringing total repayments and returns since inception to over $4.5 billion. 

CEFC also received additional funding of $20.5 billion to promote clean energy and household emission reduction initiatives, marking its first extra funding since its initial $10 billion capital allocation.