They had a 65.15% stake in Tilt Renewables that they sold off in August 2021 for $1.9b which was only wind and solar projects in Australia.
However shortly after in December 2022 they established another company named Mint Renewables in which they have a 73% stake. Although early days for the company (it is only sitting at a $2m fair value valuation for their stake based on their last FY results), Mint's website says they are in early stages of development of a BESS project in Dedarang, Victoria. This will be a sleeper for a while, getting this first project over the line (once approved), building up credibility and the like will take time before they manage to pick up momentum - Tilt's success gives me hope they know how to steer this sort of business in due time.
As for pumped hydro it seems the Australian government has a pretty tight grip on most of the larger assets to my knowledge, wouldn't be opposed to them breaking into it if they manage to as Manawa Energy (NZ pumped hydro) has been one of Infratil's cornerstone earlier investments.
IFT Price at posting:
$10.90 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)