First State Super and HESTA have partnered with Palisade to purchase the 270-megawatt Snowtown 2 Wind Farm in South Australia, several news sources have reported.
Independent infrastructure manager Palisade bought the asset for an undisclosed price on behalf of investors in its Renewable Energy Fund (PREF) and HESTA, one of the firm’s direct investment clients. First State Super acted as a co-investor, marking its first direct investment in renewable energy in Australia, according to Financial Standard.
Commissioned in October 2014, the wind farm produces an average of 875 gigawatt hours of electricity per year through 90 wind turbines, according to the project’s website.
The Snowtown 2 Wind Farm is located adjacent to the Snowtown 1 Wind Farm on the Barunga Ranges in the north and along the Hummocks Ranges to the south. It is separated into two north and south portions that are connected via an electrical and communications network, which feeds bac
