TelstraSuper increases renewable energy infrastructure investment
July 14, 2024
Profit to member super fund TelstraSuper has committed to fund new infrastructure projects supporting the transition to renewable energy.
The latest investment is in the ‘Net Zero Power Fund’ that is managed by infrastructure manager Quinbrook Infrastructure Partners. The Fund’s investment portfolio includes utility scale solar farms and battery projects, sustainable data centres, and the “Supernode battery project and sustainable data centre campus”, located just north of Brisbane.
Chief Investment Officer Graeme Miller said this latest commitment aligns with TelstraSuper’s goal to invest at least one per cent of TelstraSuper’s investment portfolio in climate-change focused opportunities by 2025.
“We are excited to be investing in infrastructure that may assist the energy transition of the global economy. As the adoption of AI accelerates, we expect so too will the need for sustainable data centres to support the flow of data throughout the globe,” said Mr Miller.
This latest investment follows other climate-change related investments made by TelstraSuper earlier this year, including an investment in Hysata – a company that focuses on developing resource and cost efficient electrolysers for the production of green hydrogen.
Mr Miller said that these types of investments are expected to drive attractive long-term outcomes for TelstraSuper’s members, both financially and by participating in the energy transition towards a net zero economy.
“We recognise that there are financial risks and opportunities associated with climate change, and these may have a real impact on members’ long-term investment returns,” said Mr Miller. “We are looking for these opportunities to allow our members to benefit from the transition to a lower carbon economy.”
“As the technology evolves, so do the opportunities for investment,” said Mr Miller. “We are delighted to support projects that may have a real impact on addressing climate challenges, whilst also offering strong potential long-term returns.”
For further information please contact
Corporate Affairs Manager Sarah Goodwin 0401 769 296 | [email protected]
Past performance is not a reliable indicator of future performance. This press release is for informational purposes and does not constitute any recommendation and/or endorsement to any person to buy or sell any investment or employ and/or implement any particular investment strategy. Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination or call us on 1300 033 166 for copies of these documents. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.