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Summary
- Macquarie Group Ltd has raised €1.6 billion as a part of the second stage of global renewable funds.
- The fundraising is backed by the global transition, and investors' shift towards green energy projects.
- The company decided to begin the second renewable investment, followed by a successful first renewable investment.
The world’s leading infrastructure investor, Macquarie Group Ltd has raised €1.6 billion as a part of second stage global renewable funds. The fundraising is backed by the worldwide transition towards green energy projects. The demand for renewable projects is rising primarily in Germany and Britain.
Why is the group investing in Renewable Energy?
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With an abrupt change in the environment and advancement in energy demands globally, it is essential to understand how the energy is being generated. Countries across the globe are targeting to minimise the carbon footprints and become carbon neutral by 2050. The company is pumping i nvestment s in green funds to support the world’s transition towards clean and green energy from conventional fossil fuels. Macquarie has established itself in this sector after making the first investment in renewables in 2005.
The decision to start the second green investment ‘Macquarie Green Investment Group Renewable Energy Fund 2’ comes ahead after taking over the British government's Green Investment Bank for £2.3 billion. The first green investment was made on Britain’s offshore wind energy project.
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What is Macquarie’s current portfolio in Renewables?
The Macquarie Infrastructure and Real Assets (MIRA) targets to invest in diversified sectors, including solar, wind, geothermal, hydro, bioenergy etc. across the entire value chain. Currently, MIRA has a portfolio of 12.4GW in green generation capacity. The group has invested more than €38.32 billion into renewables since 2010.
What’s included in the €1.6 billion green infrastructure fund?
The company raised investment from 32 different institutions including pension plans, financial institutions and sovereign reserves, surpassing a base objective of 1 billion euros.
The European investors made most of the investment, followed by British and German investors who contributed around 60 per cent in total. Significant investment has also been registered by the North American and Asia Pacific investors.
MIRA has already invested in Britain’s 576 MW Gwynt y Môr Offshore Wind project and 268 MW U.S. Solar project. Now, the company aims to invest in solar and wind projects of US, Canada, Mexico, Japan, New Zealand, Australia and West Europe.
Why is the craze for renewable investment rising?
Source: Copyright © 2021 Kalkine Media Pty Ltd.
The craze for green or renewable investment is has shown a tremendous rise in recent years. The incredible interest has been noticed as most governments worldwide are focusing on cutting their carbon emissions and becoming carbon neutral by 2050, in line with the Paris Agreement's terms. The revolution got momentum after the Biden's move to rejoin the Paris Agreement on the first day of taking charge. The investors understand the importance of climate change and become decisive in choosing investment options.
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Some renewable developers even drew their pension funds to back the green revolution and invest in green projects.
Additionally, the investors are also trying to grab this opportunity and balance their losses of pandemic crunch.
