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Day 2 of The Australian Financial Review’s national energy summit

Solar ‘gold rush’ to Australia.

October 10, 2017

Roger Lloyd, Managing Director, Palisade Investment Partners Limited, says Australia is in the middle of a solar gold rush. Developers from Europe and the US and equipment makers from China are rushing to build and invest here.

He says 70 percent of investors overseas see Australia as the most attractive place to invest in renewables.

He says Australia has an advantage over other markets which have invested more per capita in solar despite much lower levels of solar irradiance. Germany has the highest per capita capacity solar generation base but it has Tasmania’s level of solar irradiance.

China has installed huge solar infrastructure but the areas of high irradiance are miles away from big cities making them less efficient.

Lloyd says that a 40-square kilometre solar panel grid could power all Australia’s needs. He says China already has a 27-square kilometre array.

He say that projects now under construction can meet only 80 percent of the renewable energy target of 33,000 giga watt hours by 2030.  He expects solar will supply a lot of the final 20 percent.

He says that without a Clean Energy Target or some similar price signal on carbon emissions the gold rush might not eventuate. He said it was hard to sell off-take agreements from solar plants beyond 2030 when the RET expires. “We want to see something that will take us beyond 2030,” Mr Lloyd said.

Roger Lloyd says solar can’t thrive without a clean energy target.

 

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Palisade announces financial close for Victoria’s Casey Hospital Expansion Project

11 September 2017.

Palisade Investment Partners (Palisade), a specialist manager of Australian unlisted infrastructure, has reached financial close on the Casey Hospital Expansion Project (Project). The Project will involve the design, construction and maintenance of expansion works of the Casey Hospital in southeast Melbourne.

The existing Casey Hospital was commissioned in 2004. The 13,000-square-metre expansion includes 160 new beds, the hospital’s first intensive care unit, six new operating theatres, additional recovery capacity, a new day surgery unit and upgraded pharmacy, pathology and back-of-house areas, more than 300 new staff and public car parks, and a new front entry building that includes education and training spaces for Monash University.

Palisade will invest in and manage its investment in the Project on behalf of Palisade’s Australian Social Infrastructure Fund.

When it commences in late-2019, the expansion will allow Casey Hospital to treat an extra 25,000 patients, perform an extra 8,000 procedures and support an extra 1,300 births per year.

The Plenary Health consortium – comprising Plenary as financial adviser, project manager and investor; Watpac as contractor; and Brookfield Global Integrated Solutions as services provider – is contracted to design, build and maintain the expanded facility for 10 years, aligning with the remainder of the original 25-year contract.

Following the Gold Coast Light Rail Stage 2 expansion project, which achieved financial close in 2016, the Project represents Palisade’s second expansion of a social infrastructure asset.

Palisade Executive Director Vicki Rigg said Palisade was excited to be involved in the construction and operation of such an important piece of health infrastructure.

“The expansion of Casey Hospital will assist in delivering much-needed facilities to service the healthcare needs of the rapidly growing communities in Melbourne’s southeast, while providing Palisade’s investors with the characteristic long-term stable returns with which PPP projects are associated”, Mrs Rigg said.

Since inception in 2011 to June 2017, Palisade’s social infrastructure portfolio has provided investors with a total return of 15.5% p.a., including 9.6% p.a. of income before fees.

About Palisade Investment Partners

Palisade is a specialist Australian infrastructure fund manager with over A$2.4 billion in funds currently under management and commitments. It currently invests in and manages a diverse portfolio of more than 20 infrastructure assets.

Palisade acquires and actively manages high-quality unlisted infrastructure assets for its flagship funds, Palisade’s Diversified Infrastructure Fund, Palisade’s Australian Social Infrastructure Fund and Palisade’s Renewable Energy Fund, as well as for its Direct Investment Mandate clients.  Palisade currently manages equity investments across a range of sectors including airports, ports, renewable power generation, transmission, social infrastructure, agri-infrastructure and alternative waste treatment.

Palisade is majority owned by its directors and staff, with minority ownership and support provided by Pinnacle Investment Management (Pinnacle).  Pinnacle is Australia’s leading multi-affiliate investment firm and its seven specialist firms collectively manage over A$26 billion (as at 30 June 2017) for a wide range of institutional and retail investors, both in Australia an internationally.

Download a PDF of the Media Release

For further information on Palisade, please visit our website:

www.palisadepartners.com.au

Enquiries:

Vicki Rigg
Palisade Investment Partners
Executive Director
Phone: +61 (02) 8970 7810
Email: vicki.rigg@palisadepartners.com.au

 

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