Green Investment Group acquires Conergy solar team and portfolio
14 August 2018
• Acquisition of Conergy portfolio creates a new global solar development platform, complementing GIG’s existing expertise in wind, waste-to-energy and disruptive green energy technologies
• GIG’s first acquisition in Asia will see 88 solar experts join the team, with a track record of developing over 500MW of solar projects across Asia Pacific
Singapore/Edinburgh: 14 August 2018 - Green Investment Group (GIG), Macquarie Capital’s global green investment platform, today announced the acquisition of a significant solar development portfolio from Conergy Asia & ME (“Conergy”). The portfolio includes solar development assets in the Asia Pacific region, commercial, technical and energy storage capabilities, and an asset monitoring centre.
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 over 500MW of solar energy projects across Asia Pacific, and a total of 2GW globally. The acquisition increases GIG’s global team to over 300 people and reinforces Asia as a centre of excellence for GIG and Macquarie’s global solar platform.
Neil Arora, Head of Macquarie Capital for Asia and the Middle East said: “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. Today’s 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.”
Daniel Wong, Global Co-Head of Infrastructure and Energy for Macquarie Capital, said: “This acquisition underscores our ambition for the Green Investment Group to advance its position as a world leading developer and investor in green energy projects in Asia and globally - across offshore wind, onshore wind, solar, waste to energy, battery storage and energy efficiency. I’m delighted to welcome the Conergy team to GIG.”
Alexander Lenz, CEO of Conergy, said: “Conergy has had extensive solar experience in the Asia Pacific market and our employees have a strong reputation in the region. Given Macquarie’s green investment credentials and activity in the sector, we are excited to join Macquarie and leverage our capabilities to help accelerate Macquarie’s aspirations in solar.”
Marc Lohoff, COO of Conergy, said, “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. We see our team as a natural fit with Macquarie and its GIG platform.”
As GIG reaches its one year anniversary under Macquarie’s ownership, the business has expanded in scope and scale, and is now one of the world’s leading green energy investors. GIG is a global business with teams located in Asia, Europe and the Americas, specialising in activities ranging from early stage development through to construction, and operations in all major renewable technologies.
Since 2010 the combined Macquarie and GIG businesses have invested or arranged over £15bn in over 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.