IFM, QIC go deeper into low carbon energy
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The Queensland Investment Corporation and IFM Investors have sunk hundreds of millions of dollars into district energy businesses in North America as funds compete harder for assets with low carbon emissions.
“Institutional capital has a deep desire to be ESG [environmental, social and corporate governance] favouring and to have a tilt towards getting to a net zero position,” QIC’s head of infrastructure, Ross Israel, told
The Australian Financial Review.
QIC’s head of infrastructure, Ross Israel.
Attila Csaszar
Both QIC’s and IFM’s infrastructure portfolios have shifted more towards sustainable energy after Canada’s Brookfield Infrastructure, which has owned North American district energy operator Enwave Energy since 2012, split the business up.
QIC acquires interest in leading US district energy provider Enwave Energy
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NEW YORK, Feb. 2, 2021 /PRNewswire/ Australian investment manager, QIC, and consortium partner Ullico, have won a bid to acquire a 100% interest in the US business of Enwave Energy, North America s largest single-district energy platform. Enwave Energy s market-leading US business ( Enwave Energy US ) provides district energy solutions by transferring thermal energy in the form of cold water, hot water or steam from a central energy plant through urban areas or campuses to cool and heat buildings.
Enwave Energy US currently serves more than 340 clients and operates in eight cities across eight states, providing energy solutions to more than 400 buildings across sectors including universities, school districts and hospitals such as Syracuse University and Louisiana State University.
Longreach – 4 March
Brisbane North – TBC
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“We’re doing what we can to support small business and with the end of JobKeeper looming we know many small business owners will be worried.
“We’ll keep helping small business and calling on the Morrison Government to extend JobKeeper for those industries that are hurting.
“Our Big Plans for Small Business funding includes a $100 million Business Investment Fund, to invest in small to medium sized businesses to help them to grow and expand into new markets – including export markets – and will be managed by Queensland Investment Corporation.”
Queensland’s top public servants have pocketed tens of thousands of dollars in bonuses among pay packets close to $1 million. SEE THE FULL LIST OF BIG EARNERS
Queensland’s top public servants have pocketed tens of thousands of dollars in bonuses among pay packets close to $1 million. SEE THE FULL LIST OF BIG EARNERS