Macquarie's GIG invests in US renewable platform with 6-GW pipeline
Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
Macquarie Asset Management’s Green Investment Group (GIG) has invested in US greenfield renewable energy platform Galehead Development, thus gaining access to a 6-GW project pipeline.
GIG explained that its decision to invest was motivated by its strategy of owning both development and operating-phase renewable energy assets.
With GIG on board, Galehead will be able to advance work on its pipeline, expand into new markets and explore new commercial applications for its geospatial and land analytics platform.
The Boston, Massachusetts-based company was set up in 2016 to provide planning, management and delivery services for renewable energy projects. Since then, it says it has developed and monetised some 5 GW of solar, storage and wind projects and is currently working on an additional 4-GW portfolio through joint development arrangements. Among its downstream partners are Tyr Energy Development, EDF, Clearway, Rev Renewables, Steelhead, Engie and Longroad.
“Macquarie Asset Management’s Green Investment Group is an ideal long-term capital partner for Galehead to advance our vision for 'developing a century of Impact Infrastructure',” said Galehead’s CEO Matt Marino.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.