Macquarie acquires Green Investment Bank for £2.3bn

The deal will see the acquirers take control of £4bn of green infrastructure funds and projects, as well as establishing three new funds focusing on offshore wind, low-carbon credit and green infrastructure.

The business will invest a total of £3bn in equity and debt over the next three years. It will target market segments including energy efficiency, bioenergy, energy from waste, onshore and offshore wind, solar and tidal energy, and energy storage.

Macquarie will draw capital from Macquarie European Infrastructure Fund 5. The consortium of buyers also comprises Universities Superannuation Scheme, GCP Infrastructure and the UK government.

The Green Investment Bank will become Macquarie's principal platform for investment in the UK and across Europe, according to a statement, with the group integrating its existing UK green energy division into the business.

Macquarie has made a number of investments in the energy sector across Europe, acquiring a 49.89% stake in EnBW Baden-Wurttemberg's offshore wind farm EnBW Baltic 2 for a reported €720m in January 2015, and a portfolio of Spanish and Portuguese wind assets from E.ON for €2.5bn in December 2014. The group also led the buyout of gas pipeline and transportation services provider Open Grid Europe from E.ON for €3.2bn in May 2012.

The Green Investment Bank deal is expected to close in Q2 2017, subject to regulatory approval.

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• Topics
• Infrastructure
• Infrastructure
• UK / Ireland
• United Kingdom
• Macquarie Group