Macquarie’s Green Investment Group (GIG) has committed or arranged just under $7bn into various renewable energy projects over the past three years, according to its latest annual progress report.
Between September 2019 to August 2020 GIG committed or arranged over £2.9bn across a global portfolio of 250 projects, which takes the cumulative capital invested or arranged by GIG over three years to £6.9bn.
New investments include solar PV in the UK and the US, energy-from-waste in the UK, onshore wind in Poland and the Nordic and in offshore wind in Taiwan and South Korea.
Between September 2019 and August 2020 GIG signed 14 new power purchase agreements for 1.3GW of renewable energy capacity.
GIG global head Mark Dooley said: “We’ve been investing and arranging record levels of capital, executing record volumes of power purchase agreements and extending our strategic partnerships to new territories and new companies.
“As one of the world’s largest renewable energy developers and investors, we’re committed to accelerating the green transition.
“The events of 2020 have shown how critical that mission is, and at the start of this decisive decade, we stand ready to seize the opportunity and build back better.”
Other 2020 highlights include a joint venture with Enso Energy to create one of the UK’s largest subsidy-free solar and battery storage portfolios (1GW) and the inauguration of Formosa 1, Taiwan’s first commercial scale offshore wind farm, plus financial close of the 376MW Formosa 2 project.
This year GIG also struck up a partnership with Total, to co-develop a 2.3GW portfolio of five floating offshore wind projects off South Korea.
Construction for the first 500MW phase of the Ulsan project is due to begin by the end of 2023.
More recently, GIG partnered with Iberdrola to co-develop a 3.3GW offshore wind portfolio in Japan.