“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,” said Nick Butcher, Global Co-Head of Infrastructure and Energy for Macquarie Capital. The Green Investment Group’s launch into North America is hopefully another proof in Macquarie’s commitment to green financing, as the GIG seeks to focus on asset creation in the North American renewables sector, principal investment, and financing solutions across the entire project lifespan.
Whether or not recent activity is proof of Macquarie Group’s intention to continue the GIG’s role in the green finance sector, it is certainly making its mark known, earlier this year acquiring 25% interest in the 210 MW Westermost Rough offshore wind farm from Marubeni Corporation. Concern was raised by the UK’s National Audit Office at the end of 2017 regarding the sale and whether or not Macquarie would maintain the Group’s commitment to green financing beyond the first three years - an oversight in the terms of the sale. The solar project will create over 168 construction jobs and cover the annual consumption of 23,000 Ohio homes.The Green Investment Group, formerly belonging to the UK Government but now owned by Macquarie Capital, has formally launched in North America with two initiatives, including the launch of Candela Renewables for solar development and the financial close of the 200 megawatt (MW) Canadian Breaks onshore wind farm in Texas.įormerly known as the Green Investment Bank when it was owned by the UK Government, it was renamed to Green Investment Group when it was acquired by Australian bank Macquarie Group for £2.3 billion in mid-2017. From the fourth quarter of 2022, Candela Renewables will construct the Mark Center Solar Project with a capacity of 110 MW in Defiance County, Ohio. The company has made it their mission to develop solar power projects in the US that are reliable, financeable, cost effective and environmentally beneficial. It develops solar and complementary technologies like battery storage. 3) Candela Renewables (California, US)Ĭandela Renewables, founded by former First Solar Inc, is an independent utility-scale solar developer. The Union Solar Farm project located in Union County, Ohio will provide a capacity of 325 MW. Under this strategy, Acciona is developing four solar plants in Illinois, Kentucky and Ohio with a combined capacity of 889MW.
#CANDELA RENEWABLES INSTALL#
Acciona’s growth goal is to install new renewable energy with a capacity of 5GW worldwide from 2020 to 2024. Thus, the clean energy produced is enough to cover the consumption of 7.6 million homes globally every year, avoiding the emission of over 13 million tonnes of CO₂. With over 30 years of experience, the company has established a portfolio with a combined capacity of over 11GW in 16 countries which are operational. Acciona Energy is dedicated to develop energy from wind, solar, hydropower and thermal renewables. is a large global operator that develops and manages infrastructure and renewable energy.
The generated energy of these solar projects will supply electricity to the city of Cincinnati. Another solar project constructed by the company in Roseland, Falls County is expected to become operational by the end of 2022. In Ohio, the company is developing the Cincinnati Solar project which includes two facilities in Buford, Highland County with a total capacity of 100MW. Hecate Energy currently manages over 20 operational or late stage development power-generation projects in the US with 3.6 GW contracted and a 40GW+ pipeline. It specializes in solar, wind and energy storage.
Hecate Energy LLC is a leading developer, owner and operator of clean energy located in the US. The growth projection by the Solar Energy Industries Association says that 5,880 MW will be installed over the next 5 years. The state gets a 0.8% percentage of electricity from installed solar energy which is enough to power 106,226 homes in Ohio. A large percentage of that capacity has been installed since 2020. As of the first quarter of 2022, Ohio had 890MW of solar installed. In Ohio, the development of utility-scale solar projects has rocketed drastically in the last few years.
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