Macquarie Capital launches Green Investment Group in North America

By Wendy Van Sickle

Columbus, Ohio, June 28 – Macquarie Capital launched its Green Investment Group (GIG) in North America, according to a press release.

The platform will focus on asset creation in the renewables sector, principal investment and financing solutions that span all stages of a project lifecycle from development, to construction and operations.

The North American launch builds upon Macquarie’s Green Investment Group’s platform in Europe and Asia.

“The launch of the Green Investment Group in North America focuses our long-term strategic commitment to the renewable energy sector and strengthens our ability to develop and construct green energy projects in the region,” Nick Butcher, global co-head of infrastructure and energy for Macquarie Capital, said in the release.

“Since 2010, GIG and Macquarie Capital have led investment in green energy projects valued at more than $20 billion.”

The new investment group offers a full suite of services through a team comprising more than 200 green energy specialists.

Through the group’s platform, Macquarie said it will offer specialized expertise, global network and flexible solutions to established renewable energy technologies, including onshore and offshore wind, solar, hydro, transmission, waste and biomass and emerging asset classes, such as tidal, biofuels, energy efficiency, storage, low carbon transport, smart grid and district heating.

As part of the overall renewables effort, GIG will launch Candela Renewables through a partnership that backs a sector-leading solar development team.

Candela, co-founded by chief executive officer Brian Kunz and chief financial officer Nik Novograd, comprises a team of industry leaders with experience siting, overseeing and developing commercially viable greenfield solar projects across the United States, according to the release.

Under the arrangement, Candela will develop assets exclusively for GIG.

Macquarie also announced that GIG has successfully developed, commercialized and reached financial close of Canadian Breaks, a 200 MW onshore wind farm in Texas.

Macquarie provided 100% of the sponsor equity, acted as financial adviser and led the structuring of an energy hedge, tax equity and debt financing. Rabobank and Siemens Financial Services provided debt financing.

Macquarie Capital is the New York-based corporate advisory, principal investing and capital markets arm of Macquarie Group.

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