Agency information guide

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This agency information guide is prepared as required by Section 20 of the Government Information (Public Access) Act 2009 (NSW) (GIPA Act). It will be reviewed on a regular basis and at least annually as per Section 21 of the GIPA Act.

Structure and functions of the Energy Security Corporation

The Energy Security Corporation (ESC) is a statutory corporation established by the Energy Security Corporation Act 2024 (NSW) (ESC Act) with the principal objective of catalysing private sector investment in clean energy projects which contribute to the reliability, security and sustainability of the electricity supply. In pursuing this objective, the ESC has the power to:

  • invest in businesses or projects for the development or commercialisation of, or in relation to the use of, clean energy technologies
  • invest in businesses that supply goods or services needed to develop or commercialise, or for use in, clean energy technologies
  • guarantee the repayment of loans.

Under the ESC Act and the Government Sector Finance Act (2018) (NSW) (GSF Act) the ESC is granted the power to carry out these investments using a variety of flexible financial instruments. These investments can take the form of:

  • a direct investment in a project or business, including via a partnership, joint venture, or other similar arrangement
  • an indirect investment through an investment vehicle.

The ESC’s governance framework

Part 3 of the ESC Act establishes a Board of 5 to 7 members. The functions of the Board include:

  • to determine strategies and policies for the Corporation
  • to ensure the proper, efficient and effective exercise of the Corporation’s functions
  • to approve investment decisions made by the Corporation.

Under Section 13 of the ESC Act, the Treasurer, with the concurrence of the Finance Minister, is responsible for appointing members of the Board by written instrument. No more than one Board member may be a government sector employee and the Board must include (a) one worker representative nominated by Unions NSW, and (b) one member nominated by a body that represents employers in NSW.  Board members must have substantial experience or expertise, professional credibility and significant standing in the areas listed in Section 14 of the ESC Act.

Chief Executive and ESC Executive management

The day-to-day management of the ESC is carried out by a team of 3 senior executives, consisting of the Chief Financial and Operating Officer, General Counsel, and Executive Director of Investments, who report directly to the Chief Executive Officer (CEO). Through the CEO, the executive team report to the ESC Board.  The functions of the CEO include:

  • the day-to-day administration of the Corporation
  • the power to do all things necessary or convenient to be done for or in connection with the exercise of the CEO’s functions.

Decision-making functions of the ESC that affect general members of the public

The investment activities and operation of the ESC indirectly impact the public. Through providing and catalysing investment in clean energy technologies, the ESC’s investments will indirectly impact the public through its contribution to the state’s energy transformation.

Arrangements for public participation in policy formulation

The ESC operates its borrowing, investment and liability and asset management functions in a commercial and market sensitive environment.

Policy is formulated by ESC’s management and executive teams and is then reviewed and endorsed by the ESC Board. Given the scope of the ESC, there are no formal mechanisms for public participation in the formation of policy, however the ESC will accept any feedback from members of the public, which should be addressed to [email protected].  

NSW Government information held by the ESC

The ESC holds a range of NSW Government information that consists of the following:

  • accounting records: journals, reconciliations, bank statements, financial statements, budgets, invoices and payment request vouchers
  • administration records: records relating to the operation of the ESC, including the management of secretarial correspondence, the ESC’s risk register, records relating to purchasing and procurement etc
  • investment terms and agreements: term sheets and legal agreements capturing the terms and conditions of the ESC’s investments
  • counterparty and intercreditor records: while carrying out its investment function, the ESC will ultimately come into possession of documents and records. These documents relate to the counterparties and intercreditors involved in an investment and are required for the purpose of conducting due diligence
  • fund transfer agreements: legal agreements setting out the terms and conditions of financial arrangements
  • human resource records: employee records such as remuneration, performance appraisal and personnel records as well as relevant human resource management policies and practices
  • executive records: confidential Board papers, Board minutes, and Chief Executive correspondence
  • reporting and service records: records relating to the ESC’s reporting requirements under various frameworks. This includes the ESC’s standard annual reporting requirements under the GSF Act, the annual investment report, and any other requirements under various reporting frameworks
  • policy and procedural manuals: documenting the ESC’s policies and operational procedures
  • transaction records: documentation relating to any financial transactions undertaken by the ESC. This includes investment term sheets, due diligence documentation, valuation reports, etc.

The functions of the ESC will result in it holding information that is by its nature confidential and entering into agreements that include commercial-in-confidence provisions as contemplated by the GIPA Act.

Public access to ESC information

Mandatory release

The public may seek access to the ESC’s publicly available information in the following tabs on the legal information page:

Proactive release

Other information that is frequently requested and is publicly available at the following links:

Other publicly available information

Informal release

Informal requests for information can be made via our enquiry form. Provision of information is subject to any reasonable conditions which may be imposed by the ESC.

Formal release

The ESC may release information in response to a formal request. Formal requests should be made by way of a formal application.  Further information is available at the following links:  

The ESC’s policies

The ESC’s policies relate to its principal objective of accelerating investment in clean energy projects. The ESC’s policies do not directly affect or are unlikely to affect rights, privileges or other benefits, or obligations, penalties or other detriments to which members of the public are or may become entitled, eligible or liable. The ESC’s policies that do not relate to its borrowing, investment and liability and asset management functions relate to its internal governance with the exception of the Personal Data Breach Policy.

Further information

Further information about the operation of the GIPA Act and your rights under the GIPA Act can be obtained from the Information and Privacy Commission NSW (IPC) by accessing the website at www.ipc.nsw.gov.au, by phone on 1800 472 679, by emailing [email protected], or by writing to GPO Box 7011, Sydney NSW 2001. Public attendance at the IPC office is available via pre-arranged appointment. Documents can be submitted directly to the IPC via email or post.