Macquarie Capital to acquire RES Japan
Tokyo, 02 Jun 2017
Macquarie Capital today announced that it has acquired a 100% ownership interest in RES Japan, a Japanese subsidiary of Renewable Energy Systems (RES) Group. RES Japan will be rebranded as Acacia Renewables.
Acacia Renewables, headquartered in Tokyo, is developing a pipeline of onshore wind energy projects throughout Japan and employs a multinational team of professional engineers and project managers. RES Group will continue to provide selected advisory and technical services to Acacia Renewables to enable the business to have access to its market leading specialist development services.
The acquisition will expand Macquarie Capital’s renewable energy development activities in Japan and follows its recent agreement to acquire the Green Investment Bank in the United Kingdom.
Hajir Naghdy, Head of Macquarie Capital, Asia and the Middle East, said: "Macquarie has a substantial and longstanding commitment to the renewable energy and clean technology sectors. We are developing projects in the wind, solar, and waste and environmental services sectors in Asia, and this acquisition significantly strengthens our capabilities in Japan, and across the region.
"Through the acquisition of this market leading team of experts in the development, engineering and construction of renewable energy projects in Japan we are strongly positioned to help diversify the range of energy options available to consumers and businesses across the country."
Marco Perona, RES’ Commercial Director EMEA & AP says: "We are delighted to continue our partnership with Macquarie Capital in different parts of the globe and wish Acacia Renewables to continue on its growth trajectory."
David Povall, CEO of Acacia Renewables, says: "We are delighted to have Macquarie Capital as the owner of Acacia Renewables. Macquarie is one of the world’s largest investors in infrastructure and renewable energy, and we are confident that with Macquarie’s support and the in house expertise of the Acacia Renewables team, the business will continue to grow into a leading renewable energy company in Japan."
Macquarie is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 13,597 people in over 27 countries. At 31 March 2017, Macquarie had assets under management of $A481.7 billion.
Macquarie Capital provides corporate finance advisory and capital market services to corporate and government clients involved in public and private mergers and acquisitions, debt and equity fund raisings, private equity raisings and corporate restructuring. Macquarie - and its managed funds - is one of the world’s largest investors in renewable energy, and recently led the acquisition of the UK Green Investment Bank1 for £2.3 billion. Our commitment to the renewable energy and clean technology sectors is part of a broader strategic focus on infrastructure.
Macquarie has more than $A136 billion of infrastructure assets under management globally and coinvests alongside the world’s leading institutional investors including public sector pension funds.
RES (Renewable Energy Systems) is one of the world’s leading independent renewable energy companies. At the forefront of renewable energy development for over 30 years, RES has developed and/or built over 12GW of renewable energy capacity worldwide. RES' core activities are onshore wind, offshore wind, solar, energy storage and transmission. RES is headquartered in the United Kingdom and operates across the globe. For more information, visit www.res-group.com
Laura Bramwell, +61 427 866 785
Ida Cheung, +852 3922 3615
1. Transaction expected to complete, subject to regulatory approval, in first half of 2017