Macquarie Infrastructure and Real Assets – a part of Macquarie Asset Management, the asset management arm of the Sydney-based Macquarie Group – has today (10 February) announced that it has reached financial close on its second renewable fund, worth €1.6 billion.
The company said that the Macquarie Green Investment Group (GIG) renewable energy fund two was backed by 32 investors, including pension funds, insurers and sovereign wealth funds.
The 25-year closed-end fund will be used to invest in a “diversified portfolio of assets”, such as “platforms and construction stage and operational wind and solar projects” in western Europe, the US, Canada, Mexico, Japan, Taiwan, Australia and New Zealand, the company said.
To date, the GIG's second renewable energy fund has made two investments: a 10% stake in the UK’s 576MW Gwynt y Môr Gwynt y Môr (576MW) Offshoreoff Llandudno, Wales, UK, Europe Click to see full details offshore wind project and a 50% stake in a 268MW portfolio of operating residential rooftop solar projects across the US.
The predecessor fund – the GIG renewable energy fund one — became the world’s first dedicated operational offshore wind fund in 2017. The fund was raised by the Green Investment Bank – then owned by the UK government – and has since been managed by Macquarie Infrastructure and Real Assets.
Today, the fund manages investments in a 1,450 MW portfolio of six offshore wind farms around the UK, including the 317MW Sheringham Shoal Sheringham Shoal (317MW) OffshoreSheringham, Eastern England, UK, Europe Click to see full details project, the 90MW Rhyl Flats Rhyl Flats (90MW) OffshoreRhyl, Wales, UK, Europe Click to see full details project, the 194MW Lynn & Inner Dowsing Lynn & Inner Dowsing (194MW) OffshoreSkegness, Lincolnshire, Eastern England, UK, Europe Click to see full details project - both off Skegness - and the 576MW Gwynt y Môr Gwynt y Môr (576MW) Offshoreoff Llandudno, Wales, UK, Europe Click to see full details project.
Another mof the company's managed funds is invested in the 400MW Rampion Rampion (400MW) Offshoreoff Sussex, England, UK, Europe Click to see full details project off Sussex,
According to the company, Macquarie Infrastructure and Real Assets is the world’s largest infrastructure manager and a major global investor in clean energy, overseeing investments in 12.3GW of green generation capacity globally with assets worth €125 billion.
In December, Macquarie Infrastructure and Real Assets committed to investing and managing its portfolio in line with reaching net zero emissions by 2040.