National Renewable Network (NRN), an Australian distributed energy infrastructure provider, has closed a A$67.2m ($47.3m) series A funding round, marking one of the largest investments in Australian climate technology to date.
The funding round comprises both equity and debt, with significant backing from a superannuation-linked fund.
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This milestone reflects an increasing interest in solar and battery solutions across the nation, driven by government incentives for renewable installations.
The capital injection is supported by Australian climate tech investors such as Investible, Virescent Ventures and Electrifi Ventures, alongside Ecotone Partners’ newly launched Planet Fund.
Infradebt [a specialist boutique fund manager focused on originating, structuring and managing private debt investments for infrastructure projects]-managed funds have also made a significant debt commitment through vehicles such as the Australian Ethical Infrastructure Debt Fund.
Throughout this process, Neu Capital has served as NRN’s debt advisor.
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By GlobalDataThis financial boost arrives amid an unprecedented boom in demand for solar power systems, batteries and virtual power plant (VPP) schemes within Australia.
NRN CEO and founder Alan Hunter said: “Millions of Australian homeowners want solar, but the costs are prohibitive, and every energy retailer wants to scale up their solar energy generation.
“Our platform integrates tech, data, capital, compliance and market access to neatly solve the problem at both ends. For customers, it’s access to solar with no upfront fees. For energy retailers, NRN can instantly establish or scale distributed energy businesses without capital-intensive balance sheet burdens, while maintaining complete ownership of the customer experience. Our unique model is intentionally structured around empowering partners, never competing with them.”
Since 2023NRN’s network has grown more than sixfold, with more than $12m worth of renewable assets under management and almost 10 megawatt hours of installed battery capacity, according to the company’s news release.
NRN plans to utilise this new capital to fast-track its national platform expansion and enhance its pivotal role connecting industry players with government bodies and regulators.
The company aims to facilitate broader access to renewable resources while supporting partner businesses and delivering cost savings for consumers.
Australia has installed more than four million rooftop solar systems, transforming its energy market.
But while this decentralisation benefits renewables, it has also led to rising energy prices and market instability as retailers face declining demand and fluctuating supply.
NRN addresses these challenges by serving as an independent infrastructure layer between the solar industry and energy retailers.
This stabilises the grid, reduces costs for households, and enables access to solar and battery systems without upfront payments, making clean energy more affordable for everyone.
Infradebt co-founder Chin-Lee Yu stated: “Infradebt is pleased to provide a bespoke debt financing solution to support the rapid growth of the NRN platform. The build-out of residential battery storage and VPPs will be a key next step in the energy transition.”
