ReNu Energy and Australian superannuation fund HESTA have signed a “platform agreement” that provides the framework for evaluation and co-investment in hydrogen projects developed by ReNu Energy.
Countrywide Hydrogen’s Tasmanian hydrogen projects will be the first presented to HESTA for potential co-investment during 2023.
“With HESTA’s support we look forward to delivering green hydrogen projects and contributing to a lower carbon future,” says ReNu Energy executive chairman Boyd White.
HESTA chief investment officer Sonya Sawtell-Rickson says that by using its scale and expertise, HESTA aims to support the development of a pipeline of potential projects that can help deliver strong long-term investment returns for members while accelerating the transition to a more sustainable future.
“In doing so, we’re also supporting an emerging sector that we believe is poised for significant future growth.”
Countrywide managing director and ReNu Energy executive director Geoffrey Drucker says Tasmanian domestic supply projects are on track for a final investment decision this year.
“Our goal in Tasmania is to create a state-wide ecosystem for the production, distribution and use of green hydrogen and then replicate the model on the mainland.”
