01Performance

CEFC ANNUAL REPORT / 2015–16

Palisade renewables

The CEFC and specialist infrastructure manager Palisade Investment Partners (Palisade) launched a new strategy to accelerate the development of Australian renewable energy projects valued at $1 billion.

Project scope

The CEFC is initially allocating up to $50 million of equity to the initial $1 billion investment strategy. Palisade is committing up to $400 million of additional equity through a combination of managed funds and its Direct Investment Mandate clients, which include VicSuper, LGIAsuper and Qantas Super. NAB and Commonwealth Bank will work with the CEFC and Palisade to provide debt financing for these renewable energy projects.

The strategy is capable of initially developing up to 500MW in solar and wind energy generation projects throughout Australia, while delivering the robust and sustainable cash flows that are important to investors.

Looking to the future

Through this strategy, the CEFC is looking to attract investors at an earlier stage of project development, so it can more effectively accelerate the construction of commercially viable projects. This means injecting equity into projects at the time they need it most, so they can begin generating energy as soon as possible.

Considerable time has been invested in identifying projects to which to apply this funding. We see renewable energy investments fulfilling our investment criteria and delivering robust and sustainable cash flows, which are important to our investors. Palisade Investment Partners CEO
Roger Lloyd