Macquarie to launch renewable energy fund

Macquarie Group, the world’s largest private owner of infrastructure assets, is to launch a renewable energy fund, according to management.

Plans to “develop a renewable energy fund” were disclosed Tuesday in a management presentation by Michael Carapiet, the head of Macquarie Capital, Macquarie’s investment banking arm.

The disclosure follows the recent hiring of Bill Green, a former venture capital investor, to head Macquarie’s investment in renewable energy infrastructure assets in North America.

Green, a senior managing director, will build out a team to invest in renewable energy within Macquarie Capital Funds, the funds management division of Macquarie’s investment bank.

Bill Green

Green said in a previous interview with sister magazine InfrastructureInvestor that Macquarie’s renewables investments will focus on “traditional infrastructure-oriented investment at the project level”. The firm has already acquired interests in 20 renewable energy infrastructure projects for its funds totalling 2 gigawatts of electric generation capacity, according to a statement announcing Green’s appointment.

Macquarie Capital made 13 non-acquisition related director-level appointments in the three months ending 31 December 2009, according to an operational briefing by Macquarie senior management.

Macquarie also said it expects profit for the second half of its financial year ending 31 March 2010 to be “broadly in line” with its first-half profit of A$479 million (€303 million; $416 million).