Macquarie launches onshore renewables platform with 4 GW pipeline

Macquarie Asset Management on Monday launched an Australia-based onshore renewables business with an initial project pipeline of 4 GW and ambitions to build up a “diversified portfolio” of green energy generation assets in Australia and New Zealand.

Dubbed Aula Energy, the platform will aim to diversify and expand the onshore portfolio of investment bank Macquarie Group's (ASX:MQG) asset management unit and help meet the growing demand for energy. Its focus will be on the development, construction and operation of utility-scale wind, solar and integrated battery projects.

Included in Aula Energy’s initial portfolio are the 372-MW Boulder Creek wind project in Queensland and several large-scale onshore wind parks in Western Australia of up to 2.4 GW in total, co-developed with Green Wind Renewables. Schemes in New South Wales, Victoria, South Australia and Tasmania are also planned.

“Aula Energy offers Australian and international investors exposure to a unique and diversified portfolio at an important time for renewable energy markets in the region, in the context of increasing demand from commercial and industrial off-takers,” said Lachlan Creswell, head of Macquarie’s Green Investments team in Australia.

The start-up of the new business follows the launch of offshore wind specialist Corio and battery storage developer Eku Energy last year. The newly-created platform will be led by Chad Hymas, an energy industry veteran with 20 years of experience.

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