Commencing in 2012, the fund, part of the Federal Government’s Clean Energy Future plan, will be Australia’s largest renewable energy venture capital fund, making available capital to support renewable energy companies.
The fund will assist high-potential Australian renewable energy start-up companies by making critical, early-stage equity investments.
Department of Resources, Energy and Tourism Minister Martin Ferguson said: “While Australia has many innovative companies developing renewable energy technologies early-stage companies with a limited operating history have found it difficult to source venture capital.
“This fund will provide capital finance and active management to help promising Australian renewable energy companies achieve commercial success in Australia and overseas markets.”
