Investment group

Macquarie Green Investment Group continues its allocation in Europe

Posted on 09/19/2021

Macquarie’s Green Investment Group Continues has purchased Fuinneamh Sceirde Teoranta, the developer of the Sceirde Rocks offshore wind farm in Galway, Ireland. Sceirde Rocks is a 400 MW offshore wind farm project capable of generating enough energy to power the equivalent of 295,000 homes. Ireland aims to reach 70% renewable energy by 2030. Macquarie has operated in Ireland for 17 years. Macquarie has helped fund the development of Technical University of Dublin, the Dublin Waste to Energy Project, 10 National Schools and other social projects. Macquarie is also a major investor in Irish SMEs.

On June 15, 2021, Green Investment Group acquired from Capbal Limited (Capbal) a portfolio of battery storage projects connected to utility scale distribution under development in the United Kingdom. GIG and Capbal will partner to deliver an initial 187 MWh of late stage development projects and expand the portfolio through the acquisition and development of additional projects.

Moving away from nuclear power, Germany is the fifth largest biomass market in the world. In early March, Green Investment Group, Wismar Pellets and PEARL Infrastructure Capital (PEARL) finalized the financial close of the combined heat and power plant Bioenergie Wismar (Bioenergie Wismar) in northern Germany. Located at the port of Wismar, this is GIG’s first bioenergy project in continental Europe. Co-developed by GIG and Wismar Pellets, the biomass cogeneration plant will produce up to 18 MWe of electricity and 27 MWth of renewable heat. The project’s fuel supply is provided by Wismar Pellets and ILIM Nordic Timbers, who will provide bark material as a by-product of their lumber operations. Wismar Pellets and ILIM will also contract for the project’s steam generation and use heat from their neighboring facilities for wood drying. The project successfully obtained an EEG feed-in tariff for its electricity production in November 2020. To finance the construction, GIG has partnered with PEARL, an investor specializing in infrastructure, which, as a shareholder majority, has agreed to participate in the construction project with Wismar Pellets. . Macquarie Capital is the project’s sole financial advisor. Macquarie Capital raised a long-term project finance facility to support construction which was provided by Landesbank Baden-Württemberg (LBBW). Commercial operations are expected to begin in the fourth quarter of 2022. Green Investment Group has supported the biomass combined heat and power sector since 2012, with one of its first investments being in the Craigellachie cogeneration plant in Scotland, which supplies heat and electricity to the local Macallan power station. distillery. PEARL Infrastructure Capital relies on the Edmond de Rothschild Private Equity platform. The fund also benefits from the support of several anchor strategic investors, including the European Investment Bank (EIB) and the Caisse des Dépôts et Consignations (CDC).

UK climate investments
Revealed on August 18, 2021, UK Climate Investments has pledged ZAR 500million (around £ 25million) to help establish Africa’s first dedicated renewable energy company, run by the predominantly black fund manager Revego Fund Managers. The initial portfolio will contain stakes in six projects located across South Africa, with a combined installed capacity of 605 MW. Revego intends to continue to develop its portfolio through the acquisition of new assets in the region. UK Climate Investments is a joint venture between Macquarie’s Green Investment Group (GIG) and the UK Department for Business, Energy and Industrial Strategy (BEIS), which invests UK International Climate Finance to help the world’s developing economies to fight climate change and promote resilient and inclusive growth. UK Climate Investment has committed around £ 70million from UK International Climate Finance over three years to support the development of clean energy and green finance markets in sub-Saharan Africa.

On July 27, 2021, UK Climate Investments pledged £ 30million (Ksh 4.4 billion) into a new 10-year locally managed fund that, at full size, will provide around 10,000 new green and affordable homes for families. low income in Kenya. FSD Africa Investments (FSDAi), the investment arm of the UK government’s flagship agency for financial sector development in Africa, has also committed £ 5million (Ksh740million). The Fund aims to deliver approximately 10,000 housing units using modern green technologies. Housing units will provide affordable ownership and rental opportunities with 100% ownership at an average cost of £ 30,500.

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