Renewables

The Australian Energy Market Commission rejected calls from investors to move to average loss factors in a ruling that 'undermines the energy transition underway'.

The Energy Security Board cautioned that the ability of investors to efficiently manage risk to support investment decisions was at a ‘critical’ level, its highest rating of concern.

The debate over marginal loss factors may see some short-term resolution next week – but the wider conversation about reform to Australia’s National Electricity Market still has some way to run.

The fund has already made three investments, including its first bioenergy deals since hiring a team from Foresight Group last year.

Richard Braakenburg, who joined the GIG at its inception in 2013, will replace Asif Rafique, who departed SUSI in August 2018.

Survey results show that marginal loss factor volatility is increasing the cost of capital, says one investor, who also criticised the Australian regulator for being 'more interested in preserving the past'.

The investors participated in a $1bn-plus fundraising round alongside the UK Railway Pension Scheme and AP2, with QIC’s investment bringing its Global Infrastructure Fund close to full deployment.

The investment in a 5GW UK renewables portfolio is a first of its kind for MIDIS and it “definitely sees this as the first of more to come”, Tom van Rijsewijk tells Infrastructure Investor.

The fund, launched by the founders of Equitix, is seeking at least £200m which will also look to invest in renewable energy equity and debt.

The two firms have launched the search through their Australian JV, International Power (Australia) Holdings, and will seed the platform with the newly-operational 119MW Willogoleche Wind Farm.