Against the backdrop of climate risk impacts, clarifying how green finance dirvers investment in renewable energy enterprises has become a key proposition for accelerating ecological civilization construction. Based on the data of renewable energy enterprises from provinces (autonomous regions) where cities implementing the green finance reform and innovation pilot zone policy are located from 2008 to 2023, this paper constructs a multi-period difference-in-differences model using the establishment of green finance reform and innovation pilot zones as a quasi-natural experiment to examine the impact and mechanism of the construction of green finance reform and innovation pilot zones on the investment of renewable energy enterprises. The findings reveal that the construction of green finance reform and innovation pilot zones significantly promotes investment in renewable energy enterprises, primarily by enhancing the green awareness of executives and the accessibility of corporate credit. Meanwhile, this effect is more pronounced in enterprises with a higher degree of digital transformation, a lower degree of financial mismatch, and higher analyst attention. The research confirms the important position of green financial policies in promoting investment of renewable energy enterprises, and provides strong support for promoting the implementation of such policies.