Green Investment Group acquires Conergy

IEEFA

Green Investment Group (GIG), Macquarie Capital’s global green investment platform, has announced the acquisition of a significant solar development portfolio from Conergy.

The portfolio includes solar development assets in the Asia Pacific region, commercial, technical and energy storage capabilities, and an asset-monitoring centre.

“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,” Macquarie Capital head of Asia and the Middle East Neil Arora said.

“The 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.”

As part of the acquisition, Conergy employees located in Singapore, Australia, Japan, Germany and the Philippines will join GIG, adding a team of 88 professionals with extensive experience in developing more than 500MW of solar energy projects across Asia Pacific, and a total of 2GW globally.

“Conergy has long been viewed as a leader in the development, construction and operation of solar projects and over time our team has been involved in the installation of 2GW of capacity globally,” Conergy COO Marc Lohoff said.

“We see our team as a natural fit with Macquarie and its GIG platform.”

Since 2010, the combined Macquarie and GIG businesses have invested or arranged more than £15 billion in more than 200 projects across 20 countries.

The team is currently developing a pipeline of over 7GW of renewable energy projects, with a number of projects achieving 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.