Macquarie’s renewable energy credentials
London, 07 Jan 2017
Macquarie - and its managed funds - is one of the world’s largest investors in renewable energy having invested or arranged more than £8.5 billion of investment into renewable energy projects since 2010. Much of this capital has been invested in the UK and is a long-term commitment. Recent projects include:
- investing £1.6 billion in Race Bank, a 573MW wind farm being built off the north Norfolk coast;
- arranging financing for the construction of and co-investing in the Teesside Renewable Energy Plant in the north-east of England, the world’s largest new build biomass plant;
- providing equity capital for the 336MW Galloper offshore wind farm near the Suffolk coast;
- leading investment in Offshore Wind Transmission Owner (OFTOs) licences, valued at over £1 billion, which help connect and transmit electricity from offshore wind farms to the UK power grid; and
- acting as financial adviser on the Swansea Bay Tidal Lagoon, the world’s first tidal lagoon power plant that harnesses the natural flow of tides to generate consistent renewable power.
Macquarie has a substantial and longstanding commitment to the renewable energy and clean technology sectors as a fund and project manager, adviser, financier, and participant in environmental markets. We also actively invest in these sectors alongside our clients. Macquarie is committed to four key low-carbon energy growth sectors: offshore wind, onshore renewables, waste and bioenergy, and energy efficiency. As an operator and manager, we are responsible for 5,525MW of renewable energy globally, which is the equivalent to almost seven per cent of all UK energy capacity.
Our support for the renewable energy and clean technology sectors is part of a broader commitment to infrastructure. Macquarie has more than £78 billion of infrastructure assets under management globally and co-invests alongside the world’s leading institutional investors including public sector pension funds. Most of these investors, like Macquarie, have long-term investment horizons. Macquarie, and its managed funds, has invested in UK infrastructure since 1999 and has, by way of example, over the past six months been instrumental in bringing more than £10 billion of investment into infrastructure businesses and projects that provide services to people living in the United Kingdom.
In meeting the responsibilities that come with owning and managing public assets, Macquarie and investors in Macquarie-managed funds have a strong track record of ongoing capital investment to support operational growth. The operational and service improvements that have been delivered consistently over time give regulators and governments confidence in Macquarie's ongoing stewardship.