We believe that man-made climate change is real, and support the transition to a low carbon economy.
We target investments in solar energy, natural gas, wind and energy-related infrastructure.
We understand this will take time. Providing reliable, affordable energy is important to society during the transition. We won’t invest in coal, oil sands, or crude oil, or in any developments in sensitive marine environments.
Our portfolio is focussed on renewable energy, transition natural gas, electricity generation and energy infrastructure.
We are committed to the transition to a low carbon energy future. With its combination of a low short run marginal cost, high capacity factors and a low carbon footprint, electricity from wind energy is affordable, reliable and clean.
Our investment in Windlab is consistent with that commitment. Windlab is an Australian-based, technology-focussed windfarm developer, owner, and operator. Windlab uses a combination of WindScape (CSIRO developed) technology and a highly skilled workforce to design and develop some of the most efficient windfarms in Australia. Windlab has a significant portfolio of excellent wind development projects totalling over 7500 MW in Australia and Africa which are complemented by revenue streams from operating assets and its growing operations and asset management businesses.
The capacity of all wind turbines installed worldwide by the end of 2019 reached 650 Gigawatts, with 60 Gigawatts being added in 2019 alone. The World Wind Energy Association (WWEA) estimates that this is enough to meet more than 6 per cent of the global electricity demand.
Australia has world class wind resources which now provide 8.5 per cent of all electricity generated and 35.4 per cent of all renewable energy. The Clean Energy Finance Corporation (CEFC) reports that eight wind farms were commissioned in 2019, adding 837MW of new generating capacity, which was the highest annual increase in the history of the Australian wind industry.
At the end of 2019, 30 wind farms with a combined capacity of 5500 MW were under construction or financially committed nationally.