Going green

Superfunds, Page: 5
Wednesday, 17 May 2006

Vision Super and Industry Funds Management (IFM) have announced their investment in Victoria's newest wind farm facility south-east of Melbourne. The 12-megawatt facility at Wonthaggi is expected to produce approximately 34,000 megawatt hours of electricity annually. This equates to annually cutting greenhouse gas emissions by around 45,000 tonnes compared to fossil fuel power generation. According to Vision Super's chair of investments Tony Tuohey the fund is very happy with its investment in green energy and expects it to produce solid returns over the long-term.

"It is definitely a bonus to us when our members' investment needs are also matched by a positive contribution in the fight against global climate changes," he says. Industry Funds Management, which is wholly owned by nine industry superannuation funds, made a dramatic advance in its investments in the renewable energy sector last year when it acquired Pacific Hydro. The firm is a leading provider of wind and hydro electric power with assets in Australia, Chile, the Philippines, Fiji and, most recently, North America.