Palisade's Renewable Energy Fund

Investment in Australian renewable energy assets

  • Focused Mandate – Australian-based renewable energy assets (with ability to take some New Zealand exposure) – with a key focus on wind and solar projects
  • Large number of renewable assets currently available in Australia, with a significant pipeline of developments that will require long term financing over the coming years to meet government Renewable Energy Target (RET) by 2020

Existing portfolio of operating and development assets

  • Current portfolio of operating and development assets, including two operating wind farms and a solar farm development
  • Operating assets provide immediate yield to investors with 10 year average yields >7%

Significant pipeline of opportunities

  • Fund will be focused on construction and brownfield projects, but will have the ability to invest in and receive higher returns from late-stage greenfield projects which are pre-financial close
  • Top quartile of Australian greenfield sites identified and targeted over the past 12 months via extensive in-house mapping and ranking program

Favourable competitive landscape

  • There has only been a limited pool of capital pursuing renewables in Australia in recent times driven by a combination of factors including:
  • Political uncertainty – driven primarily by uncertain regulatory environment during 2014-2015 as the Abbott Government proposed cuts to the RET and attempted to abolish or restructure both Government renewables agencies – ARENA and the CEFC
  • Smaller, greenfield nature of assets – combined with significant M&A and privatisation activity – means many of the larger, more established funds are not actively pursuing renewables in Australia yet