Treasury has formed a board for the $10 billion Clean Energy Finance Corporation (CEFC).

The government appointed Jillian Broadbent as the chair of the board.

Broadbent was already chair of the CEFC expert review panel, which has been tasked to advice the government on the establishment and design of the investment fund.

She is also a board director of the Reserve Bank of Australia, Woolworths and ASX Limited.

Ian Moore, who was also on the review panel, has been appointed as a board member.

Moore has spent most of his career at Banker's Trust, where he was the head of the company's corporate finance business and a member of the credit committee.

Treasury also made State Super chairman Michael Carapiet a member of the board.

Carapiet only recently joined State Super, but spent 22 years as an investment banker with Macquarie Bank.

The board is completed by ClimateWorks Australia executive director Anna Skarbek and former Origin Energy major development projects executive general manager Andrew Stock.

The board's main tasks are to develop an investment mandate and recruit a chief executive officer for the fund.

CEFC is a new investment vehicle, which will provide finance to renewable energy, energy efficiency and low emissions technologies.

It was established as part of the Clean Energy Future Package.

The vehicle is a commercially orientated investment company and the government expects it to produce a positive return over the long term.

It is expected that the fund will invest predominantly in debt instruments, rather than equity.

It will not invest in carbon capture and storage technologies and will not provide grants.