HESTA invests in the Snowtown 2 Wind Farm in South Australia.
As the effects of climate change become clearer every year, HESTA has continued to lead by example, advocate with influence and invest for positive outcomes.
In December HESTA acquired part ownership of the Snowtown 2 Wind Farm in South Australia through our direct investment mandate with Palisade Investment Partners.
The Snowtown 2 Wind Farm is located on the Barunga and Hummocks Ranges in South Australia, approximately 130km north of Adelaide. It is comprised of 90 x 3.0MW Siemens Gamesa Renewable Energy turbines.
Snowtown 2 is capable of generating 270MW of energy, equivalent to providing power to 145,000 homes every year. Annually, the energy generated by Snowtown 2 offsets 440,000 tonnes of carbon dioxide emissions into the environment.
“HESTA is delighted to make an investment in the Snowtown 2 Wind Farm to both support a sustainable environment and deliver strong long-term returns to our members,” says Chief Investment Officer Sonya Sawtell-Rickson.
“The United Nations Sustainable Development Goals form part of our focus and this investment aligns with the goal of driving action to combat climate change and its impacts.”
At HESTA, it’s our job to create long-term value for our members. By investing in Snowtown 2, we’re supporting the United Nations’ Sustainable Development Goals (SDGs), in particular SDG 7 (Affordable and Clean Energy).
By including the United Nations’ SDGs in our investment framework we’re helping to support clean alternatives to fossil fuels, as well as support an industry that is likely to become a growing source of returns for you.