Palisade Renewable Energy Fund targets scale
Investors keen to go green
The Palisade Renewable Energy Fund, managed by Palisade Investment Partners, has a target size of $500 million and invests in renewable energy projects in Australia. The fund is one of Australia's first dedicated renewable energy funds of significant scale, provides investors access to the Australian renewable energy sector through the acquisition and development of more than 500 MW in renewable energy projects.
The CEFC's existing and now extended commitment through the PREF will support Palisade's renewable energy strategy. It will also attract further institutional capital to an existing diverse portfolio of renewable energy assets and match the tremendous pipeline of opportunities we are currently working on.Roger LloydCEO, Palisade Investment Partners
The CEFC made a $75 million cornerstone equity commitment to Palisade Renewable Energy Fund (PREF), which is seeking to attract commitments from mid-tier and large institutional investors, to invest alongside co-investors, also managed by Palisade Investment Partners (Palisade).
PREF is primarily focused on large-scale solar and wind projects and benefits from Palisade's comprehensive mapping of wind and solar farm development opportunities in Australia. PREF seed assets were the 131 MW Waterloo Wind Farm and the 94.5 MW Hallett 1 Wind Farm in South Australia, and the Ross River Solar Farm in Queensland.
Mid-tier investors have historically had limited exposure to renewable energy investment opportunities, because in many cases, they lack the scale to be direct investors. The CEFC cornerstone investment in PREF sought to unlock investment potential and tap into the growing investor appetite for renewable energy investment opportunities with both mid-tier and large institutional investors. Increasing available equity enables projects to be developed sooner, which increases Australia’s clean energy capacity and helps drive down development costs.