Australia picks Southern Cross for âcleanâ start with renewable energy fund
Australia is ready to make a 'clean' start in its quest to reach the mandated 20% level for renewable energy.
The Commonwealth Government's first Renewable Energy Venture Capital Fund is ready to roll in the New Year after Southern Cross Venture Partners was selected to manage the $200 million fund with a tenure of 13 years. The fund is a commendable step that recognises not only the importance of clean energy but the role of venture capital to act as a catalyst.
The Australian government is investing $100 million in the fund with an equal amount coming from Softbank China Venture Capital, an arm of Japan's Softbank. The fund forms part of the Australian Government's $3.2 billion Australian Renewable Energy Agency.
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