Macquarie moves 17-GW green portfolio to energy and climate fund

Macquarie Asset Management, part of Australia’s Macquarie Group Ltd (ASX:MQG), announced today it has agreed for Macquarie Green Energy and Climate Opportunities Fund to acquire a portfolio of six investments developed by its Green Investments team.

The portfolio includes investments in six companies and projects, collectively representing over 17 GW of green energy capacity across various stages of development, construction and operation. It should be noted that the figure reflects the whole generating capacity of each asset and not the part owned or managed by Macquarie.

Assembled by Macquarie Asset Management’s Green Investments team since 2018 through several transactions, the portfolio spans locations across the Americas, Asia-Pacific and Europe. Included entities are Galehead Development, Treaty Oak Clean Energy, Aula Energy, Blueleaf Energy, Outer Dowsing and Forliance. For the 1.5-GW Outer Dowsing offshore wind project in the UK, meanwhile, it was announced on Tuesday that the project will now move to the examination stage after its Development Consent Order (DCO) application has been accepted by the Planning Inspectorate. The project is a partnership between Macquarie’s Corio, TotalEnergies SE and Gulf Energy Developments.

The investments bundle subject to the transaction is being supported by key clients of Macquarie Asset Management, including UniSuper, LGPS Central, and Border to Coast Pensions Partnership, says the announcement.

“Over several years, we have worked closely with specialist teams and partners across our platform to create, acquire and grow a portfolio of companies and projects diversified across geographies, technologies, power markets and development stages,” commented Edward Northam, Head of Core Renewables at MAM Green Investments.

“The portfolio seeks to accelerate the green transition through its extensive, high quality development pipelines and operational projects that are well aligned to national targets and policies,” Northam added.

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