Superannuation giant Australian Retirement Trust (ART) will commit almost A$1 billion to MACQUARIE GROUP LIMITED (ASX:MQG)’s Green Energy and Climate Opportunities Fund (MGECO), backing renewable energy projects in Australia and abroad.
The investment forms part of ART’s plan to allocate at least A$2 billion by 2030 into assets that generate member returns while also supporting social and environmental outcomes.
MGECO’s portfolio includes both domestic and international assets, such as Aula Energy, which is developing projects in Queensland, South Australia and Western Australia, with the Boulder Creek Wind Farm near Rockhampton among its key initiatives.
Michael Weaver, ART’s general manager of mid-risk assets and UK, said MGECO offered a strong fit for the fund’s objectives. “MGECO will initially target investment opportunities across solar, onshore and offshore wind, and batteries in OECD countries including Australia,” Weaver said.