I have provided financial support to numerous renewable energy projects and businesses over many years. All sensible investors are increasingly seeking to gain experience in this growth sector.
My only current investment in any renewable energy business or project is a 15% shareholding in a start-up single project company called Rise Renewables (https://riserenewables.com.au), which is developing the Baroota Pumped Hydro and Solar Project. This project will be able to provide energy on demand and will be a critical asset in South Australia’s electricity network. I was a director of this company up until my resignation on 30 January 2019. If I am elected, I intend to dispose of my shareholding in Rise Renewables.
I have also previously been a director and personal investor in other renewable energy projects and businesses, but I have resigned from all boards and disposed of all such investments.
I was the inaugural CEO of the government-owned Clean Energy Finance Corporation which, during my tenure, made significant investments in clean energy projects across renewable energy, energy efficiency and low emissions technologies. I resigned from the CEFC in 2017.
While I was a director of Rise Renewables and another renewable energy business, UPC Renewables, both companies were shortlisted in the Government’s Underwriting New Generation Investments (UNGI) program. As a member of those boards, I was aware of the applications but played no active part in their submissions. Given the proximity in timing of the UNGI program to the federal election, it will be up to the next elected government to determine how it intends to proceed with this UNGI initiative.
I remain highly interested in innovative renewable energy technologies. Such innovation will be important to the transition of our energy and transportation systems to combat climate change. For instance, I am an active supporter of new hydrogen technologies, as well as the opportunities that can be gained from very large solar projects, such as in Western Australia. Both these initiatives can create enormous export opportunities for Australia. I have no current financial interest in any such businesses or technologies.