Nuveen LLC plans to invest up to A$500 million (US$330 million) in a solar and battery project in Australia within the next year, marking its first green-energy investment in the country.

The US-based asset manager is shifting focus to Australia and Europe due to political uncertainty affecting renewables in the US.

Nuveen expects to commit more capital in Australia over the next three years, with onshore wind among possible opportunities.

The planned project will operate in Australia’s National Electricity Market, targeting the most populated regions.

Discussions with local developers are ongoing but remain at an early stage.

🔗 Source: Bloomberg