![]() Launch of partnership with Candela RenewablesĪs part of the overall renewables effort, GIG will launch Candela Renewables through a partnership that backs a sector-leading solar development team. Through the GIG platform, Macquarie Capital will bring its highly specialized expertise, global network and flexible solutions to both established renewable energy technologies, including onshore and offshore wind, solar, hydro, transmission, waste and biomass, and emerging asset classes, such as tidal, biofuels, energy efficiency, storage, low carbon transport, smart grid and district heating. With the expansion to North America, GIG now represents a leading global, pioneering green investment platform within Macquarie Capital, offering a full suite of services through a team comprising more than 200 green energy specialists. Head of Green Energy Americas for Macquarie Capital We believe that the renewables sector in North America is poised for a prolonged period of growth as falling technology costs combined with growing demand from corporates and utilities drive increasing deployment." "We see a tremendous opportunity for renewable energy, and we are committed to building a strong pipeline across the full range of renewable subsectors, adding further scale to our global green energy business. Global Co-Head of Infrastructure and Energy for Macquarie Capital Since 2010, GIG and Macquarie Capital have led investment in green energy projects valued at more than $20 billion." "The launch of the Green Investment Group in North America focuses our long-term strategic commitment to the renewable energy sector and strengthens our ability to develop and construct green energy projects in the region. The North American launch builds upon the success of GIG’s platform in Europe and Asia. Leveraging Macquarie Capital’s deep sector expertise and established track record of structuring projects and executing complex transactions in energy and infrastructure, the platform will focus on asset creation in the renewables sector, principal investment and financing solutions that span all stages of the project lifecycle, including development, construction and operations. The transaction is not subject to any regulatory approvals or competition clearance and thus signing and completion occurred simultaneously.Macquarie Capital today announced the launch of its Green Investment Group (GIG) in North America. ![]() In addition to this, we incorporate a portfolio of excellent projects in different stages of maturity, as well as a first-class team with a proven track record in the development of projects”, stated Naturgy’s Executive Chairman, Francisco Reynés. "This transaction is a considerable step forward towards achieving our strategic objectives. The agreement enables the development of solar and energy storage projects exclusively for Naturgy. Naturgy plans to invest up to US$1.8bn over the next five years to reach an operational capacity of 1.85 GW of solar energy in 2025, while it also retains the option to develop the remaining pipeline adding up to 8 GW of solar energy projects until 2030.Īs part of the transaction, Naturgy has also entered into a five-year development agreement with Candela Renewables, made up by former directors from First Solar, which has a proven track record in the development of solar and energy storage projects in the U.S, with a team holding over 20 years of experience. Hamel Renewables holds a portfolio of 8 GW solar projects together with 4.6 GW of energy storage projects spanning 9 states in the U.S, of which 25 projects totaling 3.2 GW of solar and 2GW storage could be operational before 2026. The transaction represents Naturgy’s first investment in the US renewable energy market and demonstrates the company's firm commitment to developing its renewables portfolio internationally, focusing on stable geographies and early stage of development projects. Naturgy has acquired 100% of the economic interests in Hamel Renewables, a solar and energy storage development platform in the United States. The acquisition includes a portfolio of 8 GW solar projects together with 4.6 GW of energy storage projects spanning 9 states in the U.S., of which 25 projects totaling 3.2 GW of solar and 2 GW storage could be operational before 2026.renewable energy market and demonstrates Naturgy’s commitment to growing in renewables, focusing on geographies with strong currencies and a stable regulatory framework in the long term. This transaction represents the company’s first investment in the U.S.Naturgy enters the United States with the purchase of a renewable company specialized in solar and energy storage
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