Australia’s Clean Energy Finance Corporation (CEFC), a government-owned financial institution, has invested A$70 million (US$47 million) in the QIC Global Infrastructure Fund II.
The 12-year-old fund invests in infrastructure across the transportation, energy and telecommunications sectors and has A$2.5 billion of assets. It’s managed by Queensland Investment Corporation (QIC), the investment arm of the state government of Queensland.
“The investment will help drive the decarbonisation of two of Australia’s highest-emitting sectors, energy and transport,” CEFC says in a statement on January 20, adding that it will also help speed up Australia’s transition to net zero carbon emissions.
The move comes nine years after it invested A$72 million in the QIC Global Infrastructure Fund I.
CEFC, which has around A$33 billion of government funding, largely invests in technologies that generate, store, manage and transmit clean energy.
