The federal government’s green bank is on the cusp of a significant uptick in its investment spending, as several multibillion-dollar electricity transmission projects needed to support the energy transition head towards a final go-ahead.

Clean Energy Finance Corporation chief executive Ian Learmonth said that armed with $19 billion through the Albanese government’s Rewiring the Nation fund and a clear need for more transmission to help meet 2030 renewables targets, it expected to increase investments this financial year, from $1.8 billion in 2023-24.