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(June-2002) Funds support green waste option
The $2 billion Victorian-based industry fund Local Authorities Superannuation Fund (LAS) and Industry Fund Services Private Capital Group (IFSPCG) are part of an initiative that will secure over $200 million to construct Australia’s cleanest, proven, sustainable waste disposal and energy generation option.
As a first step towards this, renewable energy company TEST Energy has formalised a major funding coup for the Brighton, Tasmania Waste-to-Energy facility, and other renewable energy projects around Australia.
TEST’s new shareholder and project partner is the Regional Infrastructure Fund (RIF), which was developed by LAS and IFSPCG. As advisers to the Development Australia Fund, both LAS and IFSPCG have been involved in a range of funding successes, such as renewable energy giant Pacific Hydro.
LAS trustee and RIF chairman Tony Tuohey says: “RIF provides a win-win situation. As well as stimulating development in regional areas, RIF accords with the fund’s overall investment strategy, and complements existing infrastructure exposures which are currently limited to the major capitals.”
TEST Energy has secured exclusive rights to utilise the SEGHERS world leading technology from Belgium, which enables power to be supplied back to households from the waste they produce. Construction is expected to start on the $90 million facility in late 2002.
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