First State Super has joined with Palisades Investments to acquire one of Australia’s largest operational windfarms.
While we have invested in a number of renewable energy projects overseas, this is our first direct investment in such a project in Australia.
Through this investment, we have acquired a 33% ownership stake in Snowtown 2, an operational wind farm located on the Barunga and Hummocks Ranges in South Australia.
The windfarm has a 270 MW operational capacity and is capable of generating enough electricity to power over 140,000 homes per year.
This investment strongly aligns to our Responsible Ownership objectives and is in-line with our strategy to free up more private capital for sustainable development in support of our involvement in the UN’s .
This investment highlights how responsible investing can be a force for good in Australian communities while delivering strong returns for members.