Rest Lifts MPower Commitment to A$250 Million, Taking Platform Capital to A$350 Million

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. Mirage News published the announcement on November 1, 2026.

Inside Rest's Expanded MPower Commitment

The expanded commitment builds on Wollemi and Rest's existing investment since acquiring MPower's platform in September 2025. Rest said the increase significantly raises the scale at which MPower can pursue new development opportunities, and reflects its confidence in Wollemi's investment strategy as the fund seeks long-term opportunities for members' retirement savings.

MPower builds distributed, network-connected solar and battery storage projects, adding capacity where it is needed and supporting the National Electricity Market's shift from fossil fuels to renewables. Since Wollemi's acquisition, MPower has substantially scaled up development activity, with projects under construction across three states and a further project pipeline under active development.

The commitment extends Rest's relationship with Wollemi, following its US$150 million commitment to Wollemi in 2025. That portfolio includes Kalfresh, an integrated food and bioenergy precinct that turns agricultural waste into renewable energy, gas and fertiliser.

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 around one million of the fund's members are under 30, and that Rest looks for opportunities that can support members throughout their lives while benefiting from major economic and societal shifts. "We believe this commitment to Wollemi and MPower will generate significant long-term returns for our members given Wollemi's approach to advancing decarbonisation," she said.

Rest's Scale Behind the Commitment

Rest was founded in 1988 and is headquartered in Sydney, according to akta.pro company records. The same records describe Rest as an Australian industry superannuation fund providing MySuper, corporate super, pension and digital financial advice products, with more than $100 billion in funds under management and over 310,000 members.

Rest's growth investment option has returned 8.25% per annum since inception to March 31, 2026, the same records show. Michael Clancy is listed as Chief Investment Officer and Jeremy Hubbard as Group Executive, Innovation & Transformation.