Macquarie Closes $3B Green Energy Fund, Backs 12 Projects
Macquarie Asset Management has successfully closed a $3 billion fund, Macquarie Green Energy Transition Solutions (MGETS), to accelerate the global shift towards cleaner energy. The fund has already committed over 65% of its capital to projects focused on reducing greenhouse gas emissions.
MGETS has backed 12 projects so far, including Eku Energy, SkyNRG, and Verkor. These projects span various low-carbon technologies such as renewable energy storage, sustainable fuels, carbon capture, and electric transport systems. Notably, the fund has invested in Spain, financing the Gecama hybrid wind, solar, and battery storage project.
The fund's structure enables it to support both large-scale projects and smaller ventures requiring growth funding. This flexibility is expected to attract co-investments and partnerships, setting an example for other asset managers. The International Energy Agency (IEA) forecasts that global energy investment will reach a record $3.3 trillion in 2025, with clean energy technologies leading the way.
MGETS exceeded its original target due to strong investor demand, demonstrating the appetite for sustainable investments. If countries meet their climate goals, global clean energy investment could reach $4.5 trillion annually by 2030, according to the IEA. Macquarie's fund is well-positioned to play a significant role in this transition.
