Macquarie Group has announced its investment in 5GW of new offshore wind projects through its offshore wind development arm, Corio. These projects will be located off the coasts of Orkney and Lincolnshire.
The investment was unveiled during the UK's International Investment Summit, as part of a broader £20 billion package of new funding across the Australian financial services group's UK portfolio.
In addition to offshore wind, Macquarie will also back solar power and battery energy storage projects, including Island Green Power's 600MW Cottam solar project on the Nottinghamshire/Lincolnshire border.
Furthermore, the company will invest in the gas transmission network and develop fast-charging electric vehicle infrastructure through its portfolio company Roadchef.
Macquarie Group's managing director and CEO, Shemara Wikramanayake, commented: “We believe that infrastructure investment helps create strong foundations for economic growth, job creation, better services for the public and stronger communities. We are fully invested in the UK's success and look forward to playing our part in delivering the investment the country needs.”
