Equity boost for storage, hydro
In our largest equity investment in renewables, we have committed up to $100 million in the Australian Renewables Income Fund (ARIF), managed by Infrastructure Capital Group. ARIF will acquire and develop large-scale wind and solar developments, as well as energy-from-waste projects, large-scale battery storage and pumped hydro opportunities. The CEFC commitment is directed towards further renewable energy asset acquisitions, including yet-to-be-developed large-scale assets, as well as operating projects. Based on previous investment experience, we expect the investment to contribute to the development of some 260MW in renewable generation assets, with the potential to deliver carbon abatement of about 630,000 tonnes per year.