Rest Super Fund Increases Investment in MPower’s Solar and Battery Solutions

Rest Superannuation Fund Boosts Investment in MPower to $250 Million

The Australian industry superannuation fund, Rest, has upped its investment in MPower, a small solar and battery platform that was taken over by Wollemi Energy Group last year, to a substantial $250 million. This investment supports the rapid growth phase of the renewable energy developer.

This increased funding builds on Rest’s previous relationship with Wollemi, which began in July 2025 with a commitment of $US150 million (approximately $A230 million) aimed at enhancing Wollemi’s decarbonisation initiatives and next-generation infrastructure investment strategy.

MPower’s Expansion Under Wollemi

Following Wollemi’s acquisition of MPower in September last year, the company has significantly ramped up its development activities. Currently, MPower is engaged in several projects under construction across three states, with additional projects actively in the pipeline.

With Rest’s enhanced commitment now confirmed at $A250 million, the total investment in the MPower platform has reached $A350 million.

Supporting Members Through Investments

Marina Pasika, Rest’s general manager, highlighted the importance of this investment for the fund’s members: “Many of our members have decades until retirement, including around one million who are under 30, so we seek out investment opportunities that can support our members throughout their lives, while also benefiting from the significant economic and societal changes expected to shape the future,” she stated.

Pasika believes that investing in Wollemi and MPower will provide considerable long-term returns for their members, especially given Wollemi’s commitment to advancing decarbonisation. “This represents an exciting opportunity for our members to gain from the energy transition as we look for ways to grow their super balances in the coming decades,” she added.

MPower’s Achievements in Renewable Energy

MPower has successfully implemented solar, battery energy storage systems (BESS), and hybrid systems not only across Australia but also in the South Pacific, including locations like Samoa and the Cook Islands.

Paul Hunyor, co-CEO of Wollemi Capital, mentioned, “Today’s announcement reinforces Wollemi’s status as a long-term investor in scalable, distributed renewable energy infrastructure. This positions MPower well for its next growth phase, with an increase in projects under construction and more batteries being deployed.”