FIRB portal changes: What renewable energy investors need to know

Launched on 24 February 2025, Australia’s new Foreign Investment Review Board (FIRB) portal marks a major shift in how foreign investors – including those backing renewable energy projects – engage with Australia’s regulatory framework. The platform modernises the submission and compliance process, streamlining foreign investment applications.

For time-sensitive investments such as renewable infrastructure and generation assets, understanding the new system is essential to managing compliance risk and keeping projects on track.

Key changes in the FIRB portal for renewable energy investors

Digital identity verification

All users must now hold a verified digital identity before accessing the portal. This verification is required before creating a user profile or submitting any materials. Foreign investors and their legal teams should account for the time needed to complete this step, especially where external representatives are involved.

In renewables deals, timing is critical – whether that be securing land access, grid connection, project finance or meeting regulatory deadlines. Delays in identity verification could postpone compliance submissions or jeopardise transaction timelines.

Centralised compliance reporting

The new portal integrates all compliance obligations into a single interface. Renewable energy projects often trigger a range of FIRB conditions including tax, land use or national security and related ongoing reporting.

Previously, compliance reports were submitted via email, which carried risks of missed deadlines and fragmented communication. Now, compliance reports are submitted, tracked, and stored in one secure place, improving auditability and internal tracking. This creates a more robust audit trail and reduces risk for long-life energy assets.

Account management and authorised users

Each foreign investor must establish their own account. If a third-party agent or legal adviser is managing the application, they must submit a formal authority letter to link their account to the investor’s profile.

This structure supports proper governance – especially useful for joint ventures or projects involving multiple stakeholders.

In-system communication with FIRB

Correspondence with FIRB will now occur within the portal, replacing the previous email-based communication model. All submissions, responses, and status updates will be stored within the portal for future reference.

This improves regulatory visibility across the life of a project and helps avoid missed correspondence or overlooked queries.

Implementation timeline and transition plan

The portal is being introduced in phases:

• from February 2025: Investors can submit compliance reports and manage their compliance obligations through the portal
• by late April 2025: The portal will expand to allow new FIRB applications to be lodged online. At that point, users will also be able to monitor application status and pay FIRB fees directly via the system.

Until the full rollout, existing submission processes remain in place. Investors should familiarise themselves with the system early to avoid a last-minute scramble.

Impact on renewable energy investors

These changes are particularly relevant to those involved in Australia’s energy transition and infrastructure build-out. Investors in renewables can expect:

• increased efficiency: The digitised process is expected to reduce administrative burden and improve response times across government agencies
• improved transparency: Real-time tracking of applications and reporting obligations will assist with internal project planning and external assurance
• administrative adjustments: Businesses will need to update internal processes to align with new account and identity requirements, particularly where international teams or advisers are involved.

What should foreign investors do now?

To avoid disruption, foreign investors and in-house legal teams should:

• register for a digital identity: All individuals must have a verified digital identity to access the portal. Do this early to avoid delays
• set up portal accounts: Each entity and authorised agent should establish their portal profile well before their next submission
• prepare authority documentation: If external legal advisers or consultants will handle submissions, ensure signed authority letters are prepared and uploaded
• understand the compliance reporting features: Familiarise yourself with the portal’s tools for managing obligations across project life cycles.

The new FIRB portal reflects a broader push towards transparency, efficiency, and national security alignment – all of which affects foreign-backed renewable energy projects. Taking proactive steps now will help investors manage their pipeline, respond to regulators faster and reduce the risk of procedural errors.

We are closely monitoring updates to ensure clients in the renewable energy space remain aligned with evolving requirements. If you would like a detailed walkthrough of the new FIRB portal or a tailored FIRB compliance checklist for your renewable energy project, our team is here to help. For investors involved in foreign residential investment, you can read our latest note on the changes to foreign investment rules from 1 April here.

If you have any questions about the new FIRB portal or its impact on your renewable energy projects, please contact our team below.

Disclaimer
The information in this article is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this article is accurate at the date it is received or that it will continue to be accurate in the future.

Published by:

Jeanne Vallade

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