Rest has expanded its total commitment to the MPower renewable energy and battery storage platform, owned by Wollemi Energy Group, to A$250 million, as it continues to seek long-term investment opportunities designed to help grow it members' retirement savings over the decades ahead.
The increase brings 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.
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 2.1 million members that are expected to benefit from the megatrends influencing society and the global economy over the coming decades, including decarbonisation.
Rest’s General Manager, Private Markets, Marina Pasika, says: “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."
Wollemi Capital co-CEO Paul Hunyor says: "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."
About Rest
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with around 2.1 million members and more than $115 billion in funds under management as at 30 September 2026.
About Wollemi Capital
Wollemi is a growth investor building real assets that become infrastructure. We aim to make investments at the scale-up stage between venture capital and core infrastructure, across three systems in transition to lower carbon: energy, materials and land. We invest for commercial returns, and we test for measurable impact. Our team of ~40 professionals across Australia, North America and Europe combines decades of infrastructure investment experience with operators who have scaled fast-growth businesses.
Learn more at www.wollemi.com
About MPower
MPower is an Australian-owned renewable energy business making positive change happen at scale, fast. We’re dedicated to developing, designing, building, owning and operating Australia’s largest portfolio of distributed renewable energy assets. In September 2025 we were acquired by Wollemi, giving us the long-term strength to support the scale and urgency of the energy transition.
For more information, please visit our media centre or contact:
Michael Mills
Senior Manager, Communications – Media Relations
michael.mills@rest.com.au | m: 0428 499 722
Wollemi Capital
Bailey Broom
media@wollemi.com | m: 0439 046 442
This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant PDS and TMD which is available at rest.com.au/pds. Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394
Rest media releases are point-in-time statements and are current as at the date of publication. Information may not be current and up to date after the date of publication. Please note the date of issue and check Rest’s website for other information on the same or related matters.