Cbus has teamed with renewable investment management specialist Capital Dynamics and other co-investors to acquire a direct interest in two solar projects in the US.
The investment made through Capital Dynamics’ Clean Energy Infrastructure platform, has included a 100 per cent interest in Centinela Solar Energy, located in California and a 30 per cent interest in Arlington Valley Solar Energy II, located in Arizona.
Cbus chief investment Kristian Fok said the investment was significant for the fund, “underpinned by long-term power purchase agreements with an investment grade counterparty”.
“There is also the opportunity to optimise the assets alongside the deep experience of the Capital Dynamics management team,” Mr Fok said.
At the same time, the construction industry super fund has partnered with Brookfield, to invest in technology-enabled, growth-oriented businesses.
“The market for emerging technology servicing the built environment is growing rapidly and will accelerate post-COVID, primarily across real estate and construction, transport and logistics, and healthcare,” Mr Fok said.
“The disruption caused by COVID-19 has rapidly changed the way businesses operate, with increased reliance on technology and innovative business models as more people work from home. The Brookfield growth technology initiative will invest in the digital transformation of the built environment – linking technology, innovation and disruption.”
He added investing in the strategy would present the opportunity to “leverage built environment innovation” into Cbus’ assets.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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