Looking ahead, NAIF is committed to supporting the development of transformational projects. These are projects that once developed, will provide one or more of the following transformational benefits:

• A material increase in population growth or employment to a region in northern Australia;
• Creation or significant development of a new industry in northern Australia;
• A material improvement in living standard for northern Australia (or a region);
• A project which brings significant improvement to the lives of the Indigenous population; and/or
• An enabling piece of infrastructure (road, port, communication link, dam, energy solution, etc.) that facilitates any of the above.

NAIF is committed to working with key government, regional and industry stakeholders to identify transformational projects across each of the jurisdictions that we operate in. The Kidston Pumped Hydro Project is an example of a Transformational Project that NAIF has supported. NAIF’s conditional $610m financing approval in July 2019 has assisted in allowing the Project’s sponsors to progress other critical commercial discussions including equity capital raising, negotiations with key off-takers and negotiations with the Queensland Government to bring this Project closer to realisation.