Macquarie Group's asset management division has announced plans to take a minority stake in the green-energy arm of U.S. investor D.E. Shaw, with an equity investment of up to $1.73 billion.
The deal, which is pending regulatory approvals, involves funds managed by Macquarie Asset Management and D.E. Shaw Renewable Investments (DESRI), which boasts a development pipeline exceeding 25 gigawatts.
This investment by Macquarie comes amid rising geopolitical tensions, high borrowing costs, and persistent inflation that many global firms are currently facing.
It reflects strong demand from both corporations and governments for cleaner energy sources as part of efforts to combat climate change.
William Demas, head of Macquarie Asset Management Green Investments for the Americas, remarked, “We believe that this partnership with DESRI well-positions Macquarie Asset Management to capture this opportunity and help accelerate the transition to net zero.” He noted that the growing renewable energy market requires trusted partners capable of scaling operations and consolidating market efforts.
According to its website, DESRI operates in 24 states with more than 10 gigawatts of generation capacity. Bloomberg News first reported on the investment earlier on Tuesday.
Source: Reuters
