The Energy Minister is defending the Government's climate deal with a major global fund manager.

It's partnered with BlackRock Capital on a fund for solar, wind and green hydrogen infrastructure, to fast-track New Zealand's transition to renewable energy.

Megan Woods says the fund will facilitate up to $2 billion dollars in investment from around the world.

But she's confirmed to the Mike Hosking Breakfast neither the Government nor BlackRock have actually committed any cash so far.

She says BlackRock doesn't invest its own money, it invests other people's money.

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