CEFC committed up to AU$50 million in senior debt finance to the AU$100 million IIG Solar Income Fund, which is managed by the Impact Investment Group. The IIG Solar Income Fund finances medium-scale Australian solar farms, providing equity investment opportunities for high net worth individuals, smaller institutional investors and foundations.
The IIG Solar Income Fund acquires solar projects after the completion of construction and has secured exclusive rights to acquire projects from the Impact Investment Group, enabling the group to continue its development of further solar projects. The CEFC’s involvement in the IIG Solar Income Fund broadens and deepens the range of finance products available to the renewable energy sector. This complements the CEFC’s direct finance for large-scale solar projects, as well as its co-financing programs with banks and other providers that enable businesses to finance the installation of rooftop solar.