Investing in renewable technologies and energy transmission and distribution assets is one way we can play an integral role in helping Australia meet its net zero emission targets, while also generating positive investment returns for our members.
As we highlighted recently, it is important our portfolio has a diversified exposure to the energy transition and one way we look to do this is by investing across different geographies.
To bring this to life for our members, below we have included some examples of our renewables investments across Australia, North America and Europe. These examples highlight the diverse nature of our renewables portfolio and how we invest in our members’ best financial interests.
Australia
Star of the South (SotS) is the most well-progressed offshore wind development in Australia, located at least 10 kilometres off the Gippsland coast, between Port Albert and Woodside Beach. In 2022, we partnered with Copenhagen Infrastructure Partners (CIP), by acquiring a 10% stake in the project.
In May 2024, we welcomed the announcement from the Australian Government that SotS had secured one of the first feasibility licences in the country for offshore wind. This was an important step in the development of the project with a feasibility licence needed to start investigating and planning an offshore wind farm.
Changfang and Xidao offshore wind farm, Taiwan (owned by Copenhagen Infrastructure Partners who manage Star of the South).
North America
We are also invested in a portfolio of renewable solar assets in the United States, operating solar resources in strong solar resource regions. The main assets in the portfolio are:
- Centinela Solar Energy (Imperial County, California) – a solar photovoltaic (PV) power plant encompassing over 875,000 solar panels spread over a 1600-acre site.
- Arlington Valley Solar Energy (Maricopa County Arizona) – a solar PV power plant encompassing 600,000 solar panels spread over a 1160 acre site.
These two solar plants are estimated to supply around 113,000 homes of equivalent electricity.
Europe
Globally, we have been investing alongside a range of partners in wind, solar and battery projects both operating, and in development. In 2023, we invested in PowerOn that consists of two pure renewable energy platforms:
- Blue Elephant Energy, headquartered in Germany, is an independent power producer engaged in developing, owning and operating renewable energy assets primarily in Europe.
- Opdenergy is an independent power producer located in Spain that focuses on Organisation for Economic Co-operation and Development (OECD) countries. The business operates as a vertically integrated developer, builder and operator of solar PV, wind and storage assets.
Blue Elephant Energy’s solar farm in Schiersfeld, Germany.