UniSuper and two European pension funds will consider building wind farms in Tasmania after investing hundreds of millions of dollars each to buy timber plantations once owned by collapsed Tasmanian group Gunns.

UniSuper has teamed up with the United Kingdom’s Pension Protection Fund and The Netherlands’ APG Asset Management to acquire Forico, which was created by global investment group New Forests to manage 173,000 hectares of forest after acquiring it from Gunns in 2013.