Aware Super makes cornerstone investment in North Harbour Clean Energy | News
Summary
To read this full article you need to be subscribed to Newsline.Aware Super, Australias third-largest fund, has invested in North Harbour Clean Energy, pledging capital to an early stage energy-storage business opportunity.According to Financial Standard, North Harbour has priced the investment opportunity at A$30 billion ($20.4 billion) and A$100 billion ($68 billion) over the 2030 and 2050 horizons, respectively, based on Australian Energy Market Operator figures.In North Harbour Clean Energy, we saw an opportunity to support a very early stage energy storage business, led by a team with excellent credentials in the energy sector, energetically pursuing solutions that can deliver on Eastern Australias absolute need for dispatchable, renewable power, said Mark Hector, senior portfolio manager of Aware Super.In addition to providing early working capital, we recognized a significant strategic opportunity to fund larger equity capital into future successful development projects, he added. That pre