Green Investment Group Limited (GIG), a specialist green infrastructure investment platform of Macquarie Capital, has announced the acquisition of a significant solar development portfolio from Singapore-headquartered Conergy Asia & ME Pte Ltd, according to an announcement.

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

Conergy Asia, a subsidiary of Conergy Group, has representative office in the Philippines and satellite offices in Australia, Japan, and Thailand.

“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 renewables sector,” said Neil Arora, Head of Macquarie Capital for Asia and the Middle East.

This acquisition is seen to complement GIG’s expertise in wind, waste-from-energy and disruptive green energy technologies.

Post investment, the employees of Conergy located in Singapore, Australia, Japan, Germany and the Philippines will join GIG, increasing GIG’s global team to over 300 people. The deal also reinforces Asia as a centre of excellence for GIG and Macquarie’s global solar platform, according to the release.

GIG will also see the addition of 88 solar experts with a track record of handling over 500 MW projects across Asia Pacific.

“This acquisition underscores our ambition for the Green Investment Group to advance its position as a world leading developer and investor in green energy projects in Asia and globally,” said Daniel Wong, Global co-head of Infrastructure and Energy for Macquarie Capital.

GIG, an initiative of the UK Government in 2012, was acquired by the Macquarie Group in 2017. GIG has positioned itself as a leading green energy investor in the world with teams located across Asia, Europe and America.

GIG makes investments in areas like offshore wind, energy solutions, waste and bioenergy, and onshore renewables.

Funds under GIG include UK Climate Investments LLP, a joint venture with UK Government’s Department for Business, Energy and Industrial Strategy (BEIS) that looks to invest in energy efficiency projects in developing countries.

The firm has also set up a UK Green Investment Group Offshore Wind Fund, a dedicated renewable energy fund in Europe with assets under management of £1.12 billion ($1.4 billion).

Also Read:

SG’s SolarHome secures additional $1m from Insitor Impact Asia Fund

Sembcorp latest to evince interest in India’s Orange Renewable

Piramal Group mulls setting up investment platform for renewable energy assets

The post Macquarie Capital’s Green Investment Group acquires solar assets from Conergy Asia appeared first on DealStreetAsia.