Australian industry super fund Rest has committed A$1bn (€600m) to global renewable and clean energy infrastructure manager Quinbrook for renewables and green data centres.
The A$75bn superannuation fund is investing in Quinbrook’s Net Zero Power Fund and will also co-invest in US and Australian projects alongside Quinbrook to give it broad exposure to a range of assets, such as solar and battery projects and green data storage centres, including Quinbrook’s A$2.5bn Supernode green data campus in Brisbane.
The investment in Quinbrook is aimed to provide strong long-term financial returns through greater exposure to next-generation infrastructure in Australia and beyond,” Rest’s CIO Andrew Lill said, adding that the investment also supported the fund’s objective to achieve a net zero carbon footprint by 2050.
“Combined with our existing Collgar Renewables [in Western Australia] and Octopus Australia investments, this commitment builds on Rest’s track record in supporting the development of renewable energy infrastructure across Australia,” said Lill.
Quinbrook has collectively invested more than US$8.2bn (€7.5bn) in energy infrastructure assets since the early 1990s, representing more than 19.5GW of power supply capacity.
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