Cbus completes its first direct infrastructure investment
- Estimated to create 200 construction jobs in WA
- Helps to deliver strong and sustainable long-term returns
- Contributes to Cbus' United Nations Sustainable Development Goals
The first direct infrastructure investment for Cbus has just been successfully completed. Alongside the Dutch Infrastructure Fund Cbus will hold an 80.1 per cent equity stake in Bright Energy Investments with Synergy, the Western Australian Government owned electricity generator and retailer holding the remaining 19.9 per cent.
This is a strong investment from a risk and return perspective and aligns with Cbus’ long-term investment approach. It also provides opportunities in the transition to a climate resilient economy and enables Cbus to contribute to the United Nations Sustainable Development Goals.
The asset is a portfolio of existing renewable (wind and solar) energy assets with a pipeline of new renewable assets to be developed in Western Australia.
Chief Executive Officer David Atkin said the deal will deliver strong, sustainable long-term returns for Cbus members as well as make a meaningful contribution to the West Australian economy, creating local jobs and supporting the development of sustainable power for the communities in which our members live.
The development pipeline has construction and refurbishment projects already contracted and a wind farm development about to move into development. Based on current estimates these projects will create around 200 new construction jobs in WA’s mid-west region.
Find further information on this investment in the related media release.