AGL Energy Ltd
(ASX:AGL) has announced that alternative investment firm, QIC, will be its equity partner in a renewable energy fund – the ‘Powering Australian Renewables Fund’.
AGL says this new fund is worth between $2 - $3 billion, and the Future Fund will also be part of it (as a client of QIC).
According to AGL, this new partnership will own and manage around 1,000 megawatts of large-scale renewable energy infrastructure assets and projects.
Furthermore, the energy company says these projects will spur investment and development, and support of Australia’s transition to a low-carbon economy.
AGL reported a net loss of $449 million at 31 December 2015.
