GBN Member Transaction Database

In its first hydrogen-related investment, the CEFC committed $750,000 through the Clean Energy Innovation Fund to Hysata’s initial capital raise of $5 million, alongside cornerstone investor IP Group. IP Group is a global technology investor specializing in the commercialization of university research.

Hysata’s advanced electrolyser technology has the potential to significantly improve the efficiency of hydrogen production, an important step in making it a more economic source of clean energy.

In their single largest investment, the CEFC has committed up to $295 million in capital to play an instrumental role in developing EnergyConnect, delivering essential grid infrastructure. EnergyConnect is a vital piece of energy infrastructure spanning more than 900 kilometers. TransGrid is building the NSW portion of the new interconnector, which will connect the energy grids of NSW and SA, with an additional link to North West Victoria. The Australian Energy Market Operator forecasts that EnergyConnect will unlock as much as 1,800 MW of renewable energy generation across Renewable Energy Zones, including approximately 800 MW in SA, 400 MW in NSW and 600 MW in Victoria.

The CEFC has invested $75 million as a corporate loan to Ingenia Communities to encourage greater uptake of energy efficiency and renewable energy across the property sector. Ingenia has committed to reducing its carbon emissions by 30 percent in the next five years as it targets a carbon neutral operation by 2035. The Ingenia development pipeline of more than 3,000 homes provides an opportunity to innovate in terms of sustainable community and home design.

The CEFC on behalf of the Australian Government has invested $160 million to build the Neoen 300 MW Victorian Big Battery (VBB), providing a critical boost to the state’s grid security while driving down power prices and supporting more renewable energy.

The CEFC senior debt facility will finance the design, construction and operation of the VBB, which will be one of the largest energy storage facilities in the world. It is expected to be operational for the 2021-22 summer.

Australian property group Stockland is undertaking a portfolio-wide energy efficiency retrofit program, as well as the development of a market-leading Green Star design standard for new-build retirement living.

The CEFC has committed up to $75 million through a senior debt facility to finance energy efficiency sustainability initiatives at Stockland’s logistics centres, retirement living operations and corporate head offices.

The work includes the design and construction of Newport Retirement Living – a Queensland retirement village that targets a minimum 25 per cent improvement in emissions reduction levels compared with current building code requirements.

The CEFC has committed $125 million on behalf of the Australian Government to help finance the development of grid infrastructure critical to the delivery of the Snowy 2.0 pumped hydro project. In its first major grid infrastructure investment, the CEFC will fund TransGrid Services to increase the amount of reliable and secure electricity to the National Energy Market (NEM).

The CEFC corporate debt facility with TransGrid Services is part of a complex project to connect Snowy 2.0 to the NEM. TransGrid Services will draw on the CEFC finance to design, construct, operate and maintain a new 330kV switching station and associated transmission lines as part of its agreement with Snowy Hydro Limited to provide connection services for 30 years.

The CEFC has invested in innovative solar energy technology with the potential to revolutionise Australia’s use of rooftop solar, delivering lightweight, flexible panels that can be used across a wider range of applications than existing glass panels.

On behalf of the Australian Government, the CEFC committed US$7 million through the Clean Energy Innovation Fund to the Sunman US$12 million Series B capital raising, alongside company founder Dr Zhengrong Shi and Southern Cross Venture Partners.

The CEFC has invested up to $30 million in the VPP. The program is also supported by an $8.2 million grant from ARENA, an $18 million equity contribution from VPP operator Tesla and $10 million from the South Australian Government’s Grid Scale Storage Fund.

Phase 3A of South Australia’s VPP will provide enhanced stability to the SA electricity grid, bringing together a centrally controlled group of solar-powered, battery-backed homes to act as a single “power plant” with the ability to send excess lower cost renewable energy to the grid.

The CEFC has committed $80 million as a cornerstone investor to the Adamantem Capital Fund II (the Fund) in a landmark investment that will drive ambitious emissions reduction targets across a diverse range of private equity-owned, mid-market companies.

The Fund is the first Australian private equity fund to adopt a “cradle to grave” approach to the emissions impact of its assets. It is also the CEFC’s first investment in private equity.

The $700 million plus Fund targets mid-market companies, with a focus on consumer staples, healthcare and business-to-business services, enabling the CEFC to influence the sustainability profile of a significant part of the Australian economy.

Through the Clean Energy Innovation Fund, the CEFC has invested $9.2 million in Zoomo, through two successful capital raisings which seen the company raised $34 million in two years. The Australian born e-bike innovator has attracted investment support from the CEFC alongside AirTree Ventures, Maniv Mobility and Contrarian Ventures, and secured international capital from US investors Winthrop Square and Wisdom VC.

The Zoomo e-bike has an innovative design and integration system which enables couriers to deliver packages with a smaller carbon footprint compared with deliveries made via delivery cars and vans which use internal combustion engines.

Charter Hall Prime Industrial Fund (CPIF), one of Australia’s largest industrial and logistics funds, is enhancing its green strategy to transform the industrial property sector.

The CEFC committed $50 million to the CPIF, in its first pure play investment in the industrial property sector. The CPIF is considering multiple innovative sustainability solutions across its industrial and logistics assets. These include looking at optimised solutions in the use of solar PV panels across the 2 million sqm of roof space in its portfolio, as well its potential to be converted into a renewable energy resource to supply clean energy and grid services.

The CEFC senior project finance loan of up to US$47million to SO4 is part of a US$138 million syndicate senior debt facility to finance the company’s first greenfield SOP brine operation at Lake Way in WA.

The Salt Lake Potash (SO4) brine operation has the potential to cut emissions from SOP production by more than 30 per cent compared with alternative non-brine production methods, measured globally.

The SO4 production facility will be part powered by renewable energy, with a 5MW solar farm and a 2MW battery. SO4 is also investigating the potential for on-site wind power.

The work is financed by Frasers Property’s $300 million sustainability linked loan (SLL). Under the terms of the SLL, Frasers Property will receive a lower interest rate by targeting a minimum 4-star GRESB rating on its development and standing investment Australian properties. The CEFC has invested up to $75 million in the SLL.

A range of sustainability features will be adopted to reduce the operating emissions to zero, including passive design, LED lighting with advanced controls, energy monitoring systems, solar PV, battery storage, biodiesel generation, building electrification and 100 per cent carbon neutral energy supply from Real Utilities.

Innovative Australian software designed to improve farm productivity and sustainability has secured a $5 million commitment from the CEFC, on behalf of the Australian Government, to capitalise on its potential to drive down emissions from the agriculture sector.

AgriWebb is an Australian-based agtech start-up that has built a world leading livestock management platform. It supports sustainable cattle and sheep grazing, automating data collection from around the farm to help farmers manage resources more efficiently and produce livestock at its ideal weight.

The CEFC Clean Energy Innovation Fund investment will enable AgriWebb to develop tools that track methane emissions from livestock and the carbon sequestration of paddocks.

In its first direct investment to reduce embodied carbon in property construction, the CEFC has committed $95 million on behalf of the Australian Government, to help deliver the 56-hectare Roe Highway Logistics Park (RHLP) as a carbon neutral development. The project’s environmental initiatives are being led by Hesperia in collaboration with its development partners, Fiveight and Gibb Group.

The developers will use low carbon construction materials across at least five new warehouses to be built in the next 18 months. The use of low carbon concrete at RHLP could reduce emissions by up to 42 per cent compared to traditional concrete, according to analysis by leading sustainability consultant Edge Environment.

Energy Solution Providers Ltd (ESP) helps companies achieve carbon reduction and cost savings with intelligent energy and carbon management solutions. ESP is one of the largest specialist companies of its kind in NZ and is well regarded as a market leader due to its proven results, specialist consulting energy and decarbonisation capability and leading edge technology including utilising machine learning to deliver energy efficiency gains.

This $2.7m equity investment will be used to grow ESP’s New Zealand business by building the customer base, enhancing software functionality and building ESP’s carbon reporting capability.

NZGIF’s investment is enabling Carbn to create a platform to scale-up finance and help the transition of fleets to electric vehicles.

Carbn Group is a parent company of two distinct subsidiaries formed to support the uptake of low emissions vehicles in corporate and government-owned fleets.

The two companies – Carbn Asset Management (CAM) and Sustainable Fleet Finance (SFF) – operate independently to reduce New Zealand’s light vehicle fleet emissions, the country’s fastest growing emissions sector. CAM provides fleet optimisation and transition planning for fleet owners, while SFF provides financing for electric vehicles for fleets.

New Zealand Green Investment Fund announced its first investment decision on 18 June 2020, providing $15 million to Wellington port CentrePort to be used to finance low carbon initiatives.

The green credit facility provided by NZGIF will be used exclusively to fund low carbon projects which will reduce CentrePort’s overall carbon footprint, such as the introduction of electric vehicles, on-site renewable energy generation and energy efficient upgrades. Successful investment in electrification, renewables and efficiency will not only assist the port to achieve its climate goals and reduce the region’s carbon footprint, but also provide an example for other firms, in the port sector and beyond.

New Zealand Green Investment Finance announced an equity investment in Thinxtra, a leading Internet of Things (IoT) network and service provider operating an established network across New Zealand, Australia and Hong Kong.

Thinxtra built, owns and supports a lowpower network that covers 94% of New Zealand. Powered by Sigfox technology, the network is low-cost, resilient and capable of supporting high volumes of connected devices, that require very little energy to run. Using devices that run on the network can enable companies to use less power, travel less and save carbon.

New Zealand Green Investment Finance (NZGIF) has invested $10 million in solar energy services company solarZero, to support the growth of the company.

The solarZero smart solar energy service provides households with more than solar panels. Its systems include solar PV and battery hardware, smart management systems, as well as real-time monitoring to help improve energy efficiency within the home.

These technologies, in turn, extend the benefits of renewable energy beyond individual households. solarZero’s smart technology enables individual solar PV and battery systems to be linked to a ‘virtual power plant’ that supports the resilience of the electricity grid and local lines systems, especially at times of peak power demand.

In March 2021, NY Green Bank provided an 18-month senior secured $10.0 million bridge loan facility to Amp Solar Group Inc. Bridge Loan proceeds will finance project interconnection advance payments to National Grid and Rochester Gas and Electric Corporate for community distributed generation (“CDG”) solar projects.

AMP is developing a portfolio of CDG solar projects in NYS and requested that NYGB provide a $10.0 million Bridge Loan to finance interconnection advance deposits due to NG and RG&E under the New York State Public Service Commission Standardized Interconnection Requirements and Application Process.

In January 2021, NYGB entered into an agreement with CGE to provide an up to $17.4 million construction-to term loan and $1.0 million letter of credit to CGE to secure long-term rights to landfill gas at the Chautauqua Landfill in Jamestown, NY and construct improvements at the Landfill that will upgrade the gas for transportation and sale as renewable natural gas. CGE was approved by the New York State Public Service Commission to own and operate a seventy-mile natural gas pipeline, and will construct, own, and operate a three-mile pipeline connecting the project to the Little Valley Pipeline. Through the pipelines, the Project will connect to the interstate pipeline grid for delivery and sale of the RNG.

In August 2022, NYGB increased its existing construction-to-term facility with CGE by $2.6 million ($21 million aggregate) to support a landfill gas (“LFG”) to renewable natural gas (“RNG”) project in Chautauqua County.

NYGB’s $25.0 million commitment in the Term Loan is expected to support a total of 95 distributed solar projects across NYS, Massachusetts, Illinois, Maryland and Georgia, including 30 distributed solar projects – totaling 144 MW – in NYS, which will deliver considerable benefits to New Yorkers. In addition, three of the projects in the Nexamp portfolio currently under construction will support clean energy generation in NYS parks.

Nexamp is a solar, battery storage, and clean energy company founded in 2007 and headquartered in Boston, Massachusetts. Nexamp develops, constructs, owns, and operates clean energy projects reporting over 300 MW of operating solar generating capacity across 100+ projects and approximately 500 MW of solar generating capacity under construction that includes 100+ projects.

In January 2021, NY Green Bank entered into an agreement with Rudarpa North Country, LLC, an indirect subsidiary wholly owned by Rudarpa, Inc, to provide a $29.5 million construction-to-term loan for the first Landfill Gas to Renewable Natural Gas project in Rudarpa’s tobe-built portfolio of LFG-to-RNG projects. RNC will be Rudarpa’s first project and is located in Bethlehem, NH.

Rudarpa is expected to deploy at least $29.5 million for LFG-to-RNG projects in New York State.

In September 2022, NYGB increased its existing construction-to-term facility with RUDARPA, Inc. by $3.5 million ($33 million aggregate) to support the first LFG-to-RNG project in Rudarpa’s to-be-built portfolio of projects.

NYGB’s mission includes filling clean energy financing gaps for economically viable projects and business models where private capital is unavailable. The COVID-19 crisis has exacerbated financing market gaps; less capital is expected to be available for many clean energy projects and business models, resulting in even greater dependence by market participants on NYGB financing than before the COVID-19 crisis.

NY Green Bank, a division of the New York State Energy Research and Development Authority, earmarked $50 million in capital, applied to the SBA, and was approved as a PPP lender to provide PPP loans to small businesses and other eligible borrowers in the clean energy industry of New York State.