Superannuation fund Rest has expanded its commitment to MPower, the renewable energy and battery storage platform owned by Wollemi Energy Group, to A$250 million, bringing total capital committed to the platform alongside Wollemi Capital to A$350 million.
The expanded commitment, building on Wollemi and Rest’s existing investment since acquiring MPower’s platform in September 2025, significantly increases the scale at which MPower can pursue new development opportunities. It also reflects Rest’s confidence in Wollemi’s investment strategy as the super fund continues to seek long-term investment opportunities designed to help grow its members’ retirement savings over the decades ahead.
MPower’s strategy of building distributed, network-connected solar and battery storage projects focuses on rapidly adding capacity where it’s needed, supporting the National Electricity Market’s shift from fossil fuels to renewables. MPower aims to create long-term value through building a diversified portfolio of distributed energy assets.
Since Wollemi’s acquisition, MPower has substantially scaled up its development activity, with projects currently under construction across three states and a further project pipeline under active development.
This latest commitment builds on Rest’s broader relationship with Wollemi, following its US$150 million commitment to Wollemi in 2025. That portfolio also includes investments such as Kalfresh, supporting an integrated food and bioenergy precinct that turns agricultural waste into renewable energy, gas and fertiliser.
Rest’s increased commitment in MPower reflects its focus on finding attractive long-term investment opportunities for its two million members that are expected to benefit from the megatrends influencing society and the global economy over the coming decades, including decarbonisation.
Wollemi Capital Co-CEO Paul Hunyor said: “Today’s announcement strengthens Wollemi’s position as a long-term investor in scalable, distributed renewable energy infrastructure. This sets MPower up for its next phase of growth – more projects under construction, more batteries on the ground.”
Rest’s General Manager, Marina Pasika, said: “Many of our members have decades until retirement, including around one million under 30, so we look for investment opportunities that can support members throughout their lives, while benefitting from the major economic and societal shifts expected to shape the future.
“We believe this commitment to Wollemi and MPower will generate significant long-term returns for our members given Wollemi’s approach to advancing decarbonisation. This represents an exciting opportunity for our members to benefit from the energy transition as we seek out opportunities to grow their super balances over the coming decades.”
