Palisade’s renewable energy fund
Suncorp is preparing for the impacts of climate change and the transition to a net-zero emissions economy by 2050. This includes the placement of strategic investments that deliver both financial and environmental outcomes.
In 2018–19 we increased our investment in low-carbon assets with a $128 million allocation to green bonds and greater investment in low-carbon real estate and renewable energy infrastructure.
Suncorp, alongside the Clean Energy Finance Corporation, became a foundation investor in Palisade’s Renewable Energy Fund (PREF) – one of Australia’s first large-scale, dedicated renewable energy funds. The fund aims to develop or acquire more than 500MW in renewable energy projects including the Waterloo and Hallett 1 Wind Farms in South Australia, Queensland’s Ross River Solar Farm and Granville Harbour Wind Farm in Tasmania.
Suncorp Executive Manager Investment Sustainability, Greg Liddell said investments like the Ross River Solar Farm are what the responsible deployment of capital is all about.
Investments like the Ross River Solar Farm are what the responsible deployment of capital is all about.GREG LIDDELL Suncorp Executive Manager Investment Sustainability
"We are proud to be involved in a project that not only offers clean energy, jobs and opportunity for the Townsville economy, but also long-term sustainable returns for Suncorp, its customers and shareholders,” Mr Liddell said.
Palisade CEO Roger Lloyd said he was delighted to announce the completion of the Ross River Solar Farm, which generated more than 250 jobs for local businesses during construction.
"Palisade is committed to helping Australia achieve its carbon emissions targets, with the current PREF portfolio expected to power over 200,000 homes and abate over 600,000 tonnes of CO2 per annum once fully operational."