Green Investment Group Acquires Conergy’s Solar Portfolio in Asia and Middle East

Macquarie Capital’s global green investment platform, Green Investment Group (GIG), has acquired a solar development portfolio from Conergy Asia and Middle East.

The portfolio includes solar development assets in the Asia Pacific region, commercial, technical and energy storage capabilities, and an asset monitoring centre.

Macquarie and GIG businesses have invested over £15(~$19.14) billion in over 200 projects across 20 countries since 2010. They are currently developing a pipeline of over 7 GW of renewable energy projects.

Some of these projects include: a 128 MW Formosa offshore wind farm in Taiwan, 200 MW Canadian breaks onshore wind farm in Texas, and a 235 MW onshore wind farm in Vasternorrland, central Sweden.

“Conergy has had extensive solar experience in the Asia Pacific market and our employees have a strong reputation in the region. Given Macquarie’s green investment credentials and activity in the sector, we are excited to join Macquarie and leverage our capabilities to help accelerate Macquarie’s aspirations in solar,” said Alexander Lenz, CEO of Conergy, in a press statement.

As part of the acquisition, Conergy employees located in Singapore, Australia, Japan, Germany, and the Philippines will join GIG, which has extensive experience in developing over 500 MW of solar energy projects across Asia Pacific.

Neil Arora, Head of Macquarie Capital for Asia and the Middle East said, “We are pleased to enhance our solar energy capabilities from development through to design, engineering, procurement and delivery management, to build on Macquarie Capital’s solar energy track record across Asia Pacific. Today’s acquisition will also further strengthen our battery storage expertise and allow us to pursue other investment opportunities in a rapidly-growing region for the renewable sector.”

Of late, several companies have been acquiring assets or forming joint ventures (JV) in Asia and the Middle East.

Recently, Mercom reported that BlackRock Real Assets acquired the entire equity interest in a 59-MW solar portfolio comprising of 28 projects in Taiwan from J&V Energy Technology Co. (J&V Energy), a solar energy producer headquartered in Taipei.

Lightsource BP, a global renewable energy development firm, has also formed a JV with HA Utilities, a part of the Egyptian construction and engineering group Hassan Allam Holding (HAH), for the development and long-term operation of solar projects in Egypt.

Image credit: Flickr

Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer