Macquarie raises US$ 1.94 billion for wind and solar portfolio
- Australian investment group Macquarie has actually exceeded its newest wind as well as solar project fundraising target by EUR600 million (US$ 727.44 million).
Macquarie, which is the globe's biggest infrastructure capitalist, has raised more than EUR1.6 billion in its Macquarie Green Investment Renewable Energy Fund 2 (MGREF2) financing round, surpassing its initial target of EUR1 billion.
The fund brought in 32 investors such as pension plan funds, insurers, sovereign wide range funds as well as city government pension plan plans, with European entities contributing one of the most. The EUR1.6 billion will now be invested in platforms in addition to wind and solar farms in western Europe, the United States, Canada, Mexico, Japan, Taiwan, Australia as well as New Zealand. Financing will go in the direction of projects under construction and also already in operation.
Thus far, the MCREF2 has actually funded the acquisition of a 10% risk in a UK windfarm, as well as 50% ownership of a 268MW ability portfolio people residential solar projects that are already on-line. An earlier renewable energy fund handled by Macquarie, MCREF1, now looks after investment in overseas wind farms with a capacity of near 1.5 GW.
The funds adhere to on from the development of Macquarie's Green Investment Team (GIG) in 2017, when the financing giant purchased the Green Investment Bank founded by the UK government for ₤ 2.3 billion (US$ 3.18 billion). Macquarie's JOB released its own solar advancement business, Cero Generation, previously this month, settling the team's 150 existing sites under a brand portfolio totalling 8GW capability.
Leigh Harrison, head of Macquarie Infrastructure and Real Properties EMEA, said the investment bank is "dedicated to developing a follower to harness deep institutional resources pools to help attain web no."
" MGREF2 is the next step in this trip as well as we are delighted with the strong support the fund has actually obtained from our financiers."
