REF ready to invest
The Federal Government’s $200 million Renewable Energy Fund is ready to commence investment in promoting and developing the country’s renewable energy sector.
Southern Cross Venture Partners Pty Ltd was announced as the successful fund manager by Minister for Resources and Energy, Martin Ferguson AM MP in December 2011, with Softbank China Venture Capital matching the Australian Government's $100 million investment up front and dollar for dollar.
The $200 million Southern Cross Renewable Energy Fund is now the largest venture capital fund dedicated to renewable energy in Australia.
"This is great news for renewable energy companies looking to get ahead and already the fund has received an encouraging amount of interest," said Minister Ferguson.
"Venture capital is just one of many ways the Australian Government is supporting the development of Australian renewable and clean energy technologies."
"The Australian Government is also supporting innovative clean energy technology through a national carbon price side by side with a Renewable Energy Target and an unprecedented $17 billion investment in clean energy technology development and deployment."
The Southern Cross Renewable Energy Fund forms part of the Australian Government's $3.2 billion Australian Renewable Energy Agency (ARENA) when it commences on 1 July 2012.
For more information on the fund visit Southern Cross Venture Partners Pty Ltd website at www.sxvp.com