energy efficiency

The Swiss fund manager has already deployed roughly €93m through SEEF II, a fund that could be double the size of its predecessor should it reach its €400m hard-cap.

Enel will seed the new entity, which builds on the two companies’ partnership in Italy, with some 200 distributed photovoltaic generation, co-generation, tri-generation and energy efficiency projects.

he new CEFC-administered Grid Reliability Fund follows an academic report that found the federal government should facilitate investment in transmission infrastructure to ensure emissions continue to fall.

The organisation will also consider co-investing an additional $50m alongside the fund on a deal-by-deal basis.

The Swiss group has garnered €149m to date for its second energy efficiency fund, which has already made seven investments.

The former Green Investment Bank fund manager and underbidder has rolled over assets from the GIB’s first energy efficiency fund into a new public vehicle.

Opposition leader Bill Shorten has promised to pursue a ‘bipartisan market mechanism’ such as the National Energy Guarantee if his party wins power in 2019.

The state-backed financier is investing in sustainability improvements across assets managed by the firm, with a new business created to help reduce energy consumption and carbon emissions.