Power, Utilities & Renewables
Industry overview
Macquarie Capital's Power, Utilities and Renewables team combines corporate advisory expertise and experience with a dedicated focus on companies operating in the generation, transmission, distribution, retail energy marketing, water, solar, wind and biomass industries.
Utilizing our established North American footprint and strong balance sheet, Macquarie’s advisory team, commodities group, and financing professionals work together to deliver integrated solutions to clients in the sector. With more than 35 dedicated power, utilities and renewables professionals in Austin, New York, and Toronto, Macquarie Capital is a substantial and active player in the North American market, having advised on over $US13 billion of utility acquisitions in the last four years.
The team draws on the expertise and resources of Macquarie’s international platform, including capital markets, corporate structuring, hedging and strategic advice; Macquarie Securities’ leading global equity distribution capabilities; and the Fixed Income Clearing Corporation (FICC) Group’s active presence in all major power hubs and physical gas distribution expertise.
Our specialization along industry lines, both as an active player in the market and as advisor to Macquarie’s family of funds that owns and manages 11 utility and energy assets in the US and Canada, has enabled us to develop a deep understanding of our clients' businesses, understand the issues and challenges they face as well as develop extensive relationships with government, regulatory bodies and industry groups.
Key transactions
| Year | Description | Transaction Value |
|---|---|---|
| Local | ||
| 2011 | Financial advisor on the project financing for Tonopah Solar Energy | Undisclosed |
| 2011 | Lead manager on Duquesne Light Holdings, Inc. senior notes offering | $US350m |
| 2011 | Financial advisor to DUET Group on the sale of its interest in DQE Holdings LLC | $US360m |
| 2011 | Joint bookrunner and joint lead arranger to La Paloma Generating Company LLC on first-lien and second lien debt refinancing | $US427m |
| 2010 | Exclusive financial advisor to Macquarie Infrastructure Partners II on its acquisition of two landfill gas-to-energy generation facilities from Ridgewood Renewable Power LLC | Undisclosed |
| 2010 | Advisor to SolarReserve LLC on the sale of 50% of its 1,100MW solar photovoltaic platform to GCL Solar Power, Inc. | Undisclosed |
| 2010 | Financial advisor to JP Morgan Asset Management and Water Asset Management on the acquisition of SouthWest Water Co. | $US443m |
| 2010 | Co-manager on a follow-on equity offering for Centerpoint Energy | $US329m |
| 2010 | Co-manager on a follow-on equity offering for STR Holdings, Inc. | $US151m |
| 2010 | Co-manager on a senior notes offering for Puget Sound Energy | $US325m |
| 2010 | Financial advisor to Waste Management, Inc. and its waste-to-energy business subsidiary, Wheelabrator Technologies, Inc., on the acquisition of a 40% equity interest in Shanghai Environment Group Company Limited | CNY970m |
| 2010 | Lead bookrunner on the follow-on equity offering for Broadwind Energy | $US99m |
| 2009 | A Macquarie-led consortium, which included Macquarie Capital, three Macquarie-managed funds and three co-investors, acquired Washington-based Puget Sound Energy (PSE) and its parent company Puget Energy (Puget) | $US7.9bn |
| Global | ||
| 2009 | Advisor and debt arranger to Lion Power on the senior debt refinancing of Senoko Power, the largest power generation company in Singapore | $S2.35bn |
| 2009 | Advisor, equity and debt arranger to AGL on the sale of its 132MW North Brown Hill wind farm in South Australia | $A460m |
| 2009 | Sponsor, advisor and debt and equity underwriter to AquaSure, a consortium led by Thiess and Degremont/Suez Environment, for a design-build-operate contract for the 150GL desalination plant in Victoria, Australia | $A4.9bn |
| 2008 | Defense advisor to Origin Energy on the hostile off-market takeover bid from BG Group | $A16.6bn |
| 2008 | Advisor to Origin Energy on the establishment of a joint venture with ConocoPhillips for 50% of Origin's coal seam gas assets | $A10.8bn |
| 2008 | Advisor and debt arranger to the Lion Power consortium on its acquisition of Senoko Power, the largest power generation company in Singapore | $S5.14bn |
Contact us
Nick Butcher
Head of US Infrastructure, Utilities and Renewables
- Call: (212) 231 6448
- More contacts