ReNu confirms superannuation support for green projects

Green hydrogen project developer ReNu Energy has cemented the support of the superannuation sector for its projects with the signing of a platform agreement for investment with the HESTA superannuation fund.

The framework, which provides the platform for evaluation and co-investment in green hydrogen projects turns an earlier term sheet into a formal agreement, opening the way for new project selection.

Countrywide Hydrogen’s Tasmanian hydrogen projects will be the first presented by ReNu Energy to HESTA for potential co-investment during 2023.

ReNu Energy CEO Boyd White said: “This robust agreement provides ReNu Energy shareholders with a co-investment partner highly respected for its commitment to sustainability and responsible investments.

“With HESTA’s support we look forward to delivering green hydrogen projects and contributing to a low carbon future.”

Countrywide is developing a number of Tasmanian green hydrogen projects including a hydrogen hub co-located with the Bell Bay aluminium smelter (pictured) which will produce 4.5 tonnes per day of green hydrogen for domestic use.

Other projects are planned for Launceston Airport and Brighton near Hobart.

HESTA Chief Investment Officer Sonya Sawtell-Rickson said the company was looing for opportunities to invest in the development of innovative technologies are the forefront of decarbonisation.

Sawtell-Rickson said: “By using our scale and expertise, we aim 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 are supporting an emerging sector that we believe is poised for significant future growth.”

Picture: Countrywide Energy: Bell Bay, Tasmania hydrogen hub