The large new fund backed by Hostplus and the Clean Energy Finance Corporation will build a portfolio of assets across renewables technologies and regions.
The platform will also support and fund projects generated from Octopus’ Indigenous-owned renewable energy joint venture, Desert Springs Octopus, which is examining opportunities in renewable energy infrastructure in northern Western Australia, Queensland and the Northern Territory.
Mr Reynolds said that offered wholesale investors a unique opportunity to invest alongside institutions in large-scale renewables ventures. Octopus expected to raise the targeted $10 billion across five-10 years.CEFC executive director Monique Miller said the fund was putting a $75 million cornerstone investment into the OASIS fund to help address the need for new investment in utility-scale renewable energy projects.
Hostplus chief executive David Elia said the firm looked forward to being involved in the entire life cycle of investment opportunities that opened up through the energy transition, and voiced particular interest in supporting projects developed by Desert Springs Octopus.