New Energy Solar has today been recognised as an ABA100 Winner in The Australian Business Awards 2017. The award in the Eco Innovation category recognises New Energy Solar’s commitment to developing large scale solar generation infrastructure in order to provide a new investment opportunity for Australians that combines an infrastructure-like risk profile with positive social impact.
John Martin, New Energy Solar CEO said, “We are delighted to have been recognised as an ABA100 Winner for Eco Innovation in the Australian Business Awards. For a long time investors faced a choice between investing for returns or for social good, but this has changed. Solar energy is now price competitive with fossil fuel energy and New Energy Solar provides an opportunity for investors to achieve both strong returns and positive social impacts.”
Established in 2015, New Energy Solar is developing a portfolio of utility-scale solar farms that have contracted revenue flows with blue chip counterparties, such as Stanford University and Duke Energy. Currently, New Energy Solar is invested in four solar farm projects in the United States but is committed to acquiring a portfolio of solar and renewable energy assets across the globe. New Energy Solar’s four solar farms have a combined capacity of 226MW, sufficient to power 52,000 homes (estimate as at Nov 2016).
“Energy users are quickly recognising the advantages of solar power, both in terms of cost but also in responding to the environmental challenges posed by fossil fuel generated energy. Growing demand and significant advances in solar cell technology are paving the way for major investment in the solar and renewable sector and New Energy Solar is an innovative vehicle for sustainable investment in this energy transition, which is gaining momentum each year”, said Mr Martin.
New Energy Solar is primarily focussed on the US, Australian and Asian markets where declining costs are positioning solar electricity infrastructure as increasingly compelling. In the United States, the installation of solar and wind generated power is growing significantly with 10% of total US electricity generation derived from these sources as at the end of March 2017. In Australia, investment in renewable energy is also growing with research indicating that at the end of the second quarter of 2017 there was 317MW of operational utility-scale solar photovoltaic with a further 986MW under construction. Similarly, in Asia governments and the market are increasingly supportive of solar energy infrastructure.
About New Energy Solar
New Energy Solar is a sustainable investment fund initially focused on investing in large-scale, cash-flow producing solar farms that generate emissions-free power. New Energy Solar’s objective is to help investors generate positive social impact alongside attractive financial returns through the combination of distributions from producing solar assets and growth through new acquisitions and developments in the solar and renewable sectors.
New Energy Solar is committed to acquiring and maintaining a diversified portfolio of solar and renewable energy assets across the globe, with an initial focus on solar assets with contracted cash flows in the United States, Australia and select Asian markets. New Energy Solar is an unlisted stapled entity consisting of New Energy Solar Fund (Trust) and New Energy Solar Limited (Company) (together New Energy Solar or the Fund). New Energy Solar is managed by a subsidiary of Walsh & Company Asset Management.
About The Australian Business Awards
Now in their twelfth year, The Australian Business Awards are an annual all-encompassing awards program which recognises organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement via a set of comprehensive award categories. The program seeks to engage with the world’s business, innovation and technology leaders through a global recognition and knowledge building initiative that is underpinned by the program’s established framework.
For more information on New Energy Solar’s award and on The Australian Business Awards and the 2017 ABA100 Winners go to: