Powering Australian Renewables (PowAR) is an Australian infrastructure

investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages in ...

closely associated with but independent from

AGL Energy AGL Energy Ltd () is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest c ...

. Initial investment in PowAR was $200M from AGL, and up to $800M from each of

QIC QIC may refer to: * QIC-United Evangelical Church (Qua Iboe Church), a Christian denomination in Nigeria * Quarter-inch cartridge, a magnetic tape data storage format * Queensland Investment Corporation, an investment fund operated by the state g ...

Global Infrastructure Fund and the Australian

sovereign wealth fund A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as ...

, the

Future Fund The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for politicians and other p ...

. PowAR’s initial assets included the

Nyngan Solar Plant The Nyngan Solar Plant or Farm is one of the largest operating solar plants in Australia. At the time of construction, it was the largest solar plant in the southern hemisphere. It is located 10 km west of Nyngan in western New South Wale ...

and the

Broken Hill Solar Plant The Broken Hill Solar Plant, which became operational in December 2015, is a 53 megawatt farm located near Broken Hill in western New South Wales ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of N ...

, both developed by AGL Energy in 2015. It added Silverton Wind Farm and

Coopers Gap Wind Farm Coopers Gap Wind Farm is a 453 megawatt wind farm in the Western Downs and South Burnett regions of Queensland, Australia. It is located approximately 175 km north-west of the state capital Brisbane, and 50 kilometres south-west of Ki ...

soon after, both developed by AGL. In 2021, PowAR was a partner in a consortium formed to take over

Tilt Renewables Tilt Renewables Pty Ltd is an Australian electricity generation company. It was previously dual listed on the New Zealand stock exchange and Australian stock exchange. As of 2022, the Powering Australian Renewables has merged with Tilt Renewable ...

. PowAR would receive the Australian assets of Tilt Renewables, with

Mercury NZ Mercury NZ Limited is a New Zealand electricity generation and multi-product utility retailer of electricity, gas, broadband and mobile telephone services. All the company's electricity generation is renewable. In August 2021, Mercury acqui ...

to receive the New Zealand assets. As of 2022, PowAR has merged with Tilt Renewables following a complex acquisition and merger, making it the largest private developer and generator of renewable electricity in Australia.

References

{{reflist Investment funds