Australian renewable energy capital investment company Clean Energy Finance Corporation has infused $100 million into investment management firm Infrastructure Capital Group's (ICG) renewable energy fund in a move aimed at encouraging institutional backers to lift their exposure to the fast-growing sector.
With this investment, Infrastructure Capital has landed over $150 million for its new Australian Renewables Income Fund, increasing its size to $540 million.
Infrastructure Capital said that the fund is now well positioned to further diversify the existing portfolio of high-quality commitments with a number of prospective injections identified across a range of renewable energy technologies.
The renewable energy fund is targeting proven large-scale wind and solar power, as well as developing opportunities in waste-to-energy, large-scale battery storage and pumped hydro. It will commit in operating assets as well as new developments.