Macquarie's $3B Green Energy Fund Surpasses Target, Backs 12 Projects
Macquarie Asset Management has successfully closed a $3 billion fund, Macquarie Green Energy Transition Solutions (MGETS), surpassing its initial target due to high investor demand. This fund aims to accelerate the global shift towards cleaner energy.
Over 65% of the fund is already committed to projects in renewable energy storage, sustainable fuels, carbon capture, and electric transport systems. MGETS has backed 12 projects, including Eku Energy, SkyNRG, and Verkor, focusing on areas where emissions are hardest to cut. The fund's flexible structure supports both large-scale projects and smaller ventures needing growth funding. It also targets emerging technologies like green hydrogen, advanced batteries, and carbon capture to drive progress and lower costs.
The International Energy Agency (IEA) forecasts global energy investment to hit a record $3.3 trillion in 2025, led by clean energy technologies. This growing interest is evident in MGETS' strong demand, with pension funds, insurers, and sovereign wealth funds investing in low-carbon infrastructure.
Macquarie's $3 billion fund sets an example for other asset managers and is expected to attract co-investments and partnerships, expanding its impact. The fund's success highlights the growing appetite for climate finance and the urgent need to invest in clean energy technologies to reduce greenhouse gas emissions and build a cleaner energy system.
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