Macquarie Capital’s green investment platform Green Investment Group (GIG) has acquired Conergy Asia & ME’s solar portfolio including solar development assets in the Asia Pacific region, commercial, technical and energy storage capabilities, and an asset monitoring centre.
As part of the acquisition, Conergy’s employees in Singapore, Australia, Japan, Germany and the Philippines will join GIG. This will bring a team of 88 professional with experience in the development of solar energy projects totaling 2GW globally.
The acquisition is expected to reinforce Asia as a centre of excellence for GIG’ and Macquire’s global solar platform.
Conergy CEO Alexander Lenz said: “Conergy has had extensive solar experience in the Asia Pacific market and our employees have a strong reputation in the region. Given Macquarie’s green investment credentials and activity in the sector, we are excited to join Macquarie and leverage our capabilities to help accelerate Macquarie’s aspirations in solar.”
Since 2010, the combine Macquarie and GIG businesses have invested nearly £15bn in more than 200 projects across 20 countries. Presently the team is developing a pipeline of more than 7GW of renewable energy projects.
The company a number of projects in the pipeline have reached financial close in recent weeks, including the 128MW Formosa offshore wind farm in Taiwan, the 200MW Canadian Breaks onshore wind farm in Texas and a 235MW onshore wind farm in Vasternorrland, central Sweden.
Macquarie Capital Asia and the Middle East Head Neil Arora said: “We are pleased to enhance our solar energy capabilities from development through to design, engineering, procurement and delivery management, to build on Macquarie Capital’s solar energy track record across Asia Pacific.
“Today’s acquisition will also further strengthen our battery storage expertise and allow us to pursue other investment opportunities in a rapidly-growing region for the renewables sector.”