Future Fund has announced plans to intensify its focus on the energy transition sector, backed by the government’s decision to defer withdrawals until at least 2032-33.
The $229.7 billion sovereign wealth fund, which has already demonstrated its commitment to green energy through substantial investments in renewable infrastructure, is set to expand its role in Australia’s clean energy future with the appointment of a dedicated Executive Director for Energy Transition.
According to Greg Combet, Chair of the Future Fund Board of Guardians, the fund is supporting several priorities:
- Long-term investment in new capacity at Tilt Renewables, one of the largest operators and developers of green energy infrastructure in Australia with 1.8 GW in operational and late stage wind, solar and battery storage projects
- A $3 billion investment in a third runway at Melbourne Airport and a $3 billion terminal and runway development at Perth Airport
- A 400MW development pipeline at CDC, one of the largest operators and developers of data centres in Australia and New Zealand
“The Future Fund is continuing to assess opportunities to invest in businesses that will play a vital role in the energy transition. We are pleased to announce that we will be appointing an Executive Director, Energy Transition to assist us with this effort. We will also be developing strategies for further investment into housing and infrastructure,” Combet said.
“We have also long recognised the importance of environmental, social and governance issues in our investment process and will add resources in this area.
“The announcements by the Government mean that the Future Fund will be in place for years to come. This is a great outcome for all Australians. With that certainty we will be able to continue to invest for the long term, make sustainable contributions to the Federal Budget and continue to grow the value of the Fund long into the future.”
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