The Clean Energy Finance Corporation (CEFC), an entity of the Australian government, has announced a AUD100 million (US$70.4 million) equity investment in the Australian Renewables Income Fund (ARIF), managed by Australian asset manager Infrastructure Capital Group (ICG).

ARIF will focus on proven large-scale wind and solar technologies, as well as emerging opportunities in energy-from-waste, large-scale battery storage and pumped hydro. It will invest in operating assets as well as new developments, enhancing returns for investors.

The commitment represents CEFC's largest equity investment in renewables and an almost 40% increase in the CEFC’s renewables equity portfolio, which now stands at AUD355 million (US$250.0 million). It is designed to encourage institutional investors to further lift their exposure to renewables.