Macquarie Asset Management completes investment in Hydro Rein

Macquarie Asset Management (Macquarie) has today finalised its investment in a 49.9 per cent stake in Hydro Rein from Hydro for approximately $US332 million. 

Hydro Rein has 8.4 GW gross capacity in development across its core markets in the Nordics and Brazil. The business has developed strong industrial partnerships since launching in 2021, with long-term power purchase agreements totalling 5.3 TWh annually. This includes offtake agreements with Hydro’s Alunorte alumina refinery, Albras primary aluminium plant and Paragominas bauxite mine. Hydro Rein also co-developed a wind project to power the Norwegian operations of telecommunications company Telenor.

Macquarie’s investment will support the continued expansion of renewable energy solutions alongside Hydro’s ambition to accelerate the growth of low-carbon aluminium production and decarbonise hard-to-abate industries.

Read the full press release