Superannuation giants and other large investors are increasingly willing to plough billions of dollars into Australian renewable energy projects, but have expressed little desire to explore new opportunities in nuclear power.
Investors have shown little interest in the potential for nuclear power despite the Coalition’s push for it.Nuclear energy, however, ranked last on the list of technologies to which investors were seeking exposure, the report found, despite the federal opposition elevating the technology to the top of its energy agenda and campaigning for the deployment of nuclear generators in Australia.
This year, the survey canvassed the views of 63 superannuation funds and other institutions holding a collective $37 trillion of assets under management.as the top opportunity they believe will deliver the best long-term returns for their beneficiaries. Investors are also seeking opportunities in areas such as energy storage, critical minerals needed to build clean technology, and green hydrogen.
“This is due to nuclear energy’s very high cost, and the lack of maturity and deployment in next-generation technologies,” the report says.The opposition has promised it will release a detailed nuclear energy policy before the May budget.