Cbus Super is deepening its commitment to renewable energy, taking an equity stake in Atmos Renewables— one of Australia’s leading clean energy generators — as part of a broader push to bolster its infrastructure portfolio.
The investment, made in partnership with Igneo Infrastructure Partners, an existing Cbus investment manager, gives the pension fund’s members greater exposure to a diverse mix of renewable assets and will support key new developments, according to a press release.
Atmos operates 18 renewable energy projects (some of which are still under development) across Australia, with a combined capacity of 1.5 gigawatts. Its assets span the national and wholesale electricity markets, with projects located across Queensland, New South Wales, Victoria, Tasmania, South Australia, and Western Australia.
The Cbus investment will help advance two significant projects: Atmos’ first greenfield development with an integrated battery, and the full acquisition of the 316-megawatt Hornsdale Wind Farm in South Australia.
“First and foremost, we believe this investment will stack up on returns, but also has the additional benefit of supporting a sustainable energy future for Australians,” said Leigh Gavin, chief investment officer at Cbus, in the release.
“Atmos’ leadership in wind, solar, and now energy storage — under Igneo’s management — makes them ideal partners as we continue our commitment to renewable energy and support for Australia’s energy transition,” Gavin added.
To date, the super fund has allocated more than A$2.1B to renewable energy and infrastructure, in line with its strategy to secure long-term, stable cash flows from core infrastructure assets.
