The investor expects its new renewable energy platform Intera will provide a launchpad for further growth to help achieve the energy transition.
Super funds HESTA and Aware Super have signed on as minority partners to a new renewable energy platform launched by Palisade Investment Partners, which Palisade chief executive Roger Lloyd expects to supercharge the firm’s investment in the energy transition.
“Scale is just going to be increasingly important to develop what we need to get to the net zero targets that everybody is aiming for,” he told, pointing to an estimated 200GW-plus of investment required in clean energy by 2050, up from less than 20GW so far.“We all recognise there’s this enormous task to transition to a decarbonised economy.”
Mr Lloyd said the debt facility replaces existing finance at each asset, allowing a stronger and more efficient financing package to be put in place backed by the diversity in geography, fuel source and off-takers across the broader portfolio.“This allows Intera to utilise its balance sheet to pursue strategic objectives, further optimising Intera’s unique competitive advantage in the sector,” said Palisade executive director Simon Parbery.
Mr Lloyd said Intera may in future be able to invest in renewable energy projects earlier in their life cycle, but would stay clear of early-stage project development to minimise risk for superannuation investors seeking stable, long-term cash flows.
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