Solar and wind assets create long-term value for Intera investors
Intera Renewables platform expands Palisade investment strategy
Renewable energy investor Palisade Investment Partners has created a platform from existing assets to enable more efficient investment at scale.
$1.3 billion
portfolio
~1 GW
renewables capacity
Efficient
investment model
The ability to manage Intera as a single business rather than as individually managed assets, will allow for a greater suite of business and growth opportunities, as well as increased ability to optimise the performance of the existing portfolio through synergies and economies of scale.Darren SextonCEO, Palisade Integrated Management Services
Our investment
Independent infrastructure and real assets manager Palisade Investment Partners launched Intera Renewables in March 2023, with five seed assets.
Palisade Renewable Energy Fund (PREF) is the lead investor in Intera Renewables, with co-investment from Palisade Diversified Instructed Fund (PDIF), HESTA, Aware Super and the CEFC.
The CEFC has a $22.6 million direct equity stake in Intera Renewables as well as an indirect investment through its $75 million cornerstone commitment to PREF made in 2016.
The CEFC equity stake in Intera Renewables transfers a previously held equity investment in Ross River Solar Farm, which became a seed asset in the Intera portfolio.
OUR IMPACT
Crowding in institutional investors
Australia requires significant investment in renewable energy to meet its net zero targets. At the same time, institutional investors have a growing appetite for sustainable investment opportunities that can diversify their portfolios and meet the needs of their members.
Combining assets in platforms enables developers to provide opportunities with efficient, at-scale investment in the renewable energy sector.
The focus of Intera Renewables is on developing and constructing new renewable energy projects, while providing investors with stable income returns underwritten by an existing high-quality portfolio of operating assets.
Platform structure optimises investment
The Intera Renewables platform combines the financing structures of five individual Palisade assets into one single entity of scale, with a common ownership, governance, management and financing structure.
The assets backing the Intera Renewables platform are highly contracted and offer geographically diverse cashflows, which have created a foundation to structure a portfolio financing with significant flexibility and debt capacity above a conventional single asset project financing structure.
Intera Renewables seed assets are:
- 420 MW Macarthur Wind Farm in Victoria
- 270 MW Snowtown 2 Wind Farm in South Australia
- 116 MW Ross River Solar Farm, Queensland
- 112 MW Granville Harbour Wind Farm in Tasmania
- 94.5 MW Hallett 1 Wind Farm, South Australia.
