The Albanese government will be asked to help fund Victoria’s resurrected SEC, while discussions with major industry super funds have begun.
under a plan to build a publicly controlled wind or solar energy farm as early as the next state election in 2026.
The documents note that suitable “co-investors” could include “private investors, superannuation funds and the Commonwealth Government”. But the details have been sketchy, and it’s not yet clear who the funding partners would be, whether the new-look SEC would have a retail arm and what role, if any, it would have in distribution.
In response to questions to energy minister Lily D’Ambrosio, a government spokeswoman said re-establishing the SEC presented “an enormous opportunity for a wide range of market participants, investors, and potential project partners”. Construction industry fund Cbus also refused to comment, but a fund insider noted its interest in renewable energy, including its 10 per cent stake in the Star of the South offshore wind farm, south of the Gippsland coast.Health and community service industry fund HESTA has also invested in wind energy. Its portfolio management head Jeff Brunton said HESTA had not yet considered “opportunities related to the Victorian government’s SEC announcement”.
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