Green Investment Group (GIG), Macquarie Capital's global green investment platform, has acquired a solar development portfolio from Conergy Asia & ME. 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. Details of the deal were not disclosed, but GIG says the solar development portfolio was "significant".   

"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," says Neil Arora, head of Macquarie Capital for Asia and the Middle East.

Daniel Wong, global co-head of Infrastructure and Energy for Macquarie Capital, adds: "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."

Alexander Lenz, CEO of Conergy, says Conergy has had extensive solar experience in the Asia Pacific market. 

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, specializing 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 15 billion pounds 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.

Photo: Green Investment Group