House Tablet

Find The Best Solar Deals In Australia

  • 3 Free, No Obligation, Solar Quotes
  • From Fully Qualified Installers
  • With 1000’s of Customer Reviews
  • Competing for Your Business
Finn Peacock Caricature

Ready for some quotes? Enter your postcode now

Australian renewable energy venture capital fund launched

19th Dec 2011

The federal government has announced the appointed fund manager of Australia’s largest renewable energy venture capital fund.

Southern Cross Venture Partners has been named as the successful bidder, in a move that will make a total of $200 million available to renewable energy companies from early next year.

The $100 million energy fund comes as part of the Australian Government's $3.2 billion Australian Renewable Energy Agency and will be matched dollar for dollar by Softbank China Venture Capital.

High-potential Australian renewable energy start-up companies - including those involving solar power - are set to benefit from the venture, assisting them to "overcome capital constraints, develop technologies, increase skills and forge international linkages".

The fund is expected to actively seek further private sector funding to support its growing portfolio of companies.

According to the minister for resources and energy Martin Ferguson, the 13-year Southern Cross Renewable Energy Fund confirms the government's commitment to innovation and support for the development, commercialisation and deployment of Australian renewable energy.

"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," he said at the fund launch (December 15).

"This fund will provide capital finance and active management to help promising Australian renewable energy companies achieve commercial success in Australia and overseas markets."

News of the fund comes as one of our Asian neighbours plans to scale up its solar capacity.

China has announced the further revision of its solar power development target for 2015, increasing its aim by 50 per cent from its previous plan. 

According to China National Radio, the National Energy Administration announced that the government has now set a target for installed solar power generating capacity to reach 15 gigawatts - or an annual output of 20 billion kilowatt hours - by 2015.

Despite being the world's largest exporter of photovoltaic products, China recorded an installed solar power capacity of less than 1 gigawatt at the end of 2010.

The rapid increase in solar power installation this year came after the government unified grid feed-in tariffs for solar projects for the first time in July, as well as offering a higher price for larger projects put into operation before 2012.

Posted by Mike Peacock - Solar correspondent

Solar Power News Categories

Government Rebate & Regulations
Solar Power & Technology

More Solar Power & Technology

Australia to be a part of huge Asian renewable energy growth
SunPower steps up to make solar more affordable
Canberra makes strides toward carbon neutrality
GTM puts solar's massive growth in perspective
Examining Australia's falling solar PV rooftop prices
Australia's shift toward renewable energy picks up the pace
Australia shines at solar decathlon
University of Queensland tapped as lead researcher on massive solar project
100 per cent renewable energy is possible in 10 years, environmental group says
Climate Commission releases report on solar progress
Aussie government actually shows spine for solar power
Be gone, skeptics: One million solar installations and counting
Australia embarks on its greatest solar journey ever
Australia looks to solar thermal for commercial success
Solar power helps King Island reach 100% sustainability
Australians 'heavy supporters of solar power'
Mildura solar plant officially unveiled
Solar power trumps other renewables in Australian minds
Sunshine Coast solar farm "fantastic initiative"
Sunshine Coast cashes in on namesake with solar plans
Energy storage 'could maximise solar power utility'
Solar powered family car - a world first?
Code of conduct for solar installers in the works
'Stop punishing households' for solar PV
Australian solar companies 'adjusting well'
Australian mining 'next solar frontier'
"Rooftop revolution" underway across Australia
Global PV market emerging from sluggish period
Royalla solar farm receives final approval
Leadership challenge a "debacle" for Australian solar power
Solar power giving global renewables a helping hand
Australia's largest CPV solar power plant up and running
Renewable energy misinformation "staggering"
CEC: Don't underestimate consumer desire for solar
Setting energy efficient examples on TV
Solar PV brightening up household bills
World's largest solar powered boat on the move
Climate change is heating up
The global solar power shift
New solar tech win for NSW
Industry orgs praise City of Sydney solar efforts
Clean Energy Council supports Regional Renewables scheme
Asian nations emerging as PV leaders
Solar PV demand continues to grow
Regional areas of Australia to receive more renewables
Australia's significant renewable energy growth
Solar panel reprieve for Queensland
New funding for solar research
Find love with sustainable speed dating
New Victorian solar power deal