HMC Capital has settled on a name for its growing portfolio of energy assets, moving on from the intermediary title of ‘HMC Energy Transition Platform’ to an enlightened new moniker.
HMC, which launched its Energy Transition Fund in 2024 with former prime minister Julia Gillard as its chair, says the newly named Illuma Energy will house battery developer Stor-Energy, in which HMC bought a controlling stake in 2024, and the then-$950 million of Neoen’s Victorian assets bought later that same year.
It will also capture the $603 million investment from KKR that HMC Capital landed earlier this year to develop its pipeline of energy assets.
A statement from HMC Capital says the “near-term” energy pipeline is “fully funded to FID-ready status.”
That list will include the 300 megawatt (MW), 1,200 megawatt-hour (MWh) Moorabool battery near Geelong which is 90 per cent equity funded by KKR, and likely the 600 MW Kentbruck wind project, located in a pine plantation in Victoria, which has its state planning permission in hand. Both have federal underwriting agreements.
