Macquarie's GIG purchases United States eco-friendly platform with 6-GW pipeline
- Macquarie Asset Management's Green Investment Group (GIG) has invested in US greenfield renewable energy platform Galehead Development, thus gaining access to a 6-GW project pipe.
GIG clarified that its decision to invest was inspired by its strategy of possessing both development as well as operating-phase renewable energy assets.
With GIG on board, Galehead will be able to advancement service its pipeline, broaden into new markets and check out new commercial applications for its geospatial and also land analytics platform.
The Boston, Massachusetts-based firm was set up in 2016 to provide preparation, management as well as distribution services for renewable energy projects. Since then, it says it has created as well as monetised some 5 GW of solar, storage and also wind projects as well as is presently servicing an added 4-GW portfolio via joint development setups. Among its downstream partners are Tyr Energy Development, EDF, Clearway, Rev Renewables, Steelhead, Engie and Longroad.
"Macquarie Asset Management's Green Investment Group is a suitable long-lasting resources companion for Galehead to advance our vision for 'developing a century of Impact Infrastructure'," claimed Galehead's CEO Matt Marino.