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Macquarie Asset Management’s Green Investment Group Completes Investment in Galehead Development | Company


Macquarie Asset Management’s Green Investment Group (GIG) and Galehead Development (Galehead) today announced the closing of an investment by GIG in Galehead, a leading US-based renewable energy development platform. United and a trusted partner for global utilities, independent power producers and major US corporations. for the planning, management and realization of renewable energy projects.

Galehead is differentiated by its proprietary LandCommand® technology and specialized front-end development capabilities. Since 2016, the company has successfully developed and monetized 5 GW of co-located solar PV, wind and storage projects and is actively developing an additional 4 GW through existing joint development agreements. GIG’s investment will enable Galehead to advance an additional 6 GW of early to mid-stage renewable energy projects, enter new markets and explore new business applications for its LandCommand® platform. The Galehead partnership and pipeline will contribute to GIG’s strategy of owning both development-stage and operating-stage renewable energy assets.

“The U.S. renewable energy market is entering a period of tremendous growth, driven in large part by the core renewable technologies of solar and wind,” said Mark Dooley, global head of the green investment group. “With its proven track record and strong portfolio of early to mid-stage development projects, Galehead is well positioned to be at the forefront of this growth. Our partnership allows us to expand GIG’s presence in the United States and marks the beginning of an exciting new phase in our work to accelerate the transition to net zero.

GIG is a specialist green investor within Macquarie Asset Management and a global leader in developing companies, assets and technologies that aim to accelerate the global transition to net zero. The asset manager oversees investments in over 46 GW of capacity and, through GIG and its portfolio companies, is currently developing over 30 GW of renewable energy capacity globally.

“Macquarie Asset Management’s Green Investment Group is an ideal long-term capital partner for Galehead to advance our vision of ‘Developing a Century of Impact Infrastructure’. We are proud to continue GIG’s long tradition of pioneering investments in the energy transition, and we are excited to work together to expand the Galehead platform,” said Matt Marino, CEO of Galehead.

“We are pleased to achieve our strategic objectives with the structuring and closing of this investment. GIG’s capital commitment strengthens Galehead’s balance sheet, access to institutional resources and our internal capabilities to deliver transformative clean energy projects to our downstream partners,” added Patrick Martin, COO of Galehead.

Already an established market for renewables with 37 GW installed in 2021, we believe the United States is poised for further strong growth in this decade. The United States is estimated to account for a significant portion of the global renewable energy growth expected by 2030.1

About Macquarie Asset Management

Macquarie Asset Management is a global asset manager that aims to deliver positive impact to everyone. Recognized by institutions, pension funds, governments and individuals for managing over A$735.5 billion / EUR 459.0 / GBP 394.6 / USD 531.7 in assets worldwide, Macquarie Asset Management provides access to specialist investment expertise across a range of capabilities including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewable energy, natural assets, real estate and asset financing.

Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, financing, banking, advisory and risk and capital solutions for debt, equities and commodities. Founded in 1969, Macquarie Group employs approximately 17,209 people in 33 markets and is listed on the Australian Securities Exchange.

About the Green Investment Group

Green Investment Group (GIG) is a specialist green investor within Macquarie Asset Management and a global leader in developing companies, assets and technologies that aim to accelerate the global transition to net zero. Originally launched by the UK government in 2012 as the Green Investment Bank, it was the first such institution in the world. Acquired by Macquarie in 2017, GIG has become one of the world’s largest green investors with a development pipeline of over 30 GW in over 25 markets, spanning established renewables and emerging green technologies.

All figures as of March 31, 2022.

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About Galehead:

Galehead Development is a leading upstream technology and development services platform for the identification and development of transformative clean energy resources. Since 2016, Galehead has used its proprietary LandCommand® technology to form strong partnerships with downstream partners to jointly develop solar PV, wind and collocated storage projects. Based in Boston, MA, Galehead manages development operations across the United States with a mission to accelerate North America’s energy transition.

With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any entity of the Macquarie group mentioned herein is not an authorized depository institution for the purposes of the Banking Act 1959 (Commonwealth of ‘Australia). The obligations of these other Macquarie group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or provide any other assurance with respect to the obligations of such other Macquarie group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk, including delays in repayment and loss of income and invested capital and (b) none of Macquarie Bank or any other entity within the Macquarie group does not guarantee any rate of return or return on the investment, nor guarantee the return of capital on the investment.

1 BloombergNEF, 2022

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CONTACT: Media InquiriesFor MacquarieSarah Stein, Macquarie Group Media Relations

[email protected] Galehead DevelopmentPatrick Martin, COO

[email protected] Lowitz, Marketing Associate

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SOURCE: Macquarie Asset Management

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PUBLISHED: 07/18/2022 11:18 AM/DISC: 07/18/2022 11:18 AM