|Policy Status||In force|
|Date Promulgated||November 1997|
|Agency||•Department of Resources, Energy & Tourism|
|Funding||AUD 26.6 million (Government: AUD 17.7 million, Private sector AUD 8.9 million)|
|Related Policies||Renewable Energy Industry Development (REID)|
•RD & D
•Multiple Renewable Energy Sources
|Policy Sector||•Multi-sectoral Policy|
|Description||The Renewable Energy Equity Fund (REEF) provides venture capital to small, innovative companies for the development of renewable energy technologies. The fund is managed by an independent company with supervision provided by Innovation Australia. The Department of Resources, Energy and Tourism has policy responsibility for the programme while AusIndustry administers programme delivery.
The Commonwealth has allocated AUD 17.7 million, which is matched by private equity on a 2:1 basis, amounting to a total of AUD 26.6 million over ten years. The Identification and management of investments is undertaken by an independent fund manager, which seeks to maximise return on capital for the REEF. Eligible companies may receive a maximum investment of AUD 3 million or 10% of the initial capital (whichever is less).