Corporate
03 October 2019
Published and presented at the Macquarie Green Investment Group Green Energy Conference 2019 today, the Progress Report highlights GIG’s transactions throughout the reporting period1 , provides a forward look to GIG’s future strategy and includes detailed green impact reporting.
Throughout the reporting period, GIG invested and arranged over £2.4 billion globally, in line with its green purpose.
Highlights include:
Following the acquisition in August of a 40 per cent stake in what will be one of the largest offshore wind farms in the world, East Anglia One, GIG has now supported nearly 50 per cent of total UK offshore wind capacity in operation or construction.
On 25 September 2019 and as part of the commitments made at the United Nations Climate Action Summit, Macquarie announced its intention to develop a 20 GW pipeline of new renewable energy projects through GIG. Many of these projects are expected to be backed by corporate power purchase agreements (PPAs) arranged by GIG. Around a fifth of the overall pipeline is expected to be sourced in emerging market countries where climate finance flows have been historically weaker.
Mark Dooley
Global Head of GIG
GIG also published its green impact for the year to 31 March 2019. This details how GIG activity during that period is estimated to result in the avoidance of 13,000kt of CO2e – equivalent to removing 165,000 cars from the road – and will support over 43,000 GWh of renewable energy generation , equivalent to the energy consumption of 440,000 homes. In accordance with GIG’s leading green impact performance reporting framework, the estimated lifetime renewable energy generated by all GIG investments to date now totals 492,667 GWh.
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