Macquarie Launches New Renewable-Energy Business

By Alice Uribe

SYDNEY--Macquarie Group's green investment division has launched a new renewable-energy business, with plans to develop, build and operate wind, solar and integrated battery projects across Australia and New Zealand.

The new business, called Aula Energy, will have an initial portfolio with an expected capacity of 4 gigawatts, with planned projects spanning all Australian states.

Lachlan Creswell, head of Macquarie Asset Management's specialist green investments team for Australia and New Zealand, said the new business would diversify and grow the company's onshore portfolio, as demand from investors for opportunities in renewable-energy assets increases.

"The energy transition in Australia requires an acceleration in the deployment of new renewable generation," he said.

"The Aula Energy team's experience, and long-term partnership approach to the creation and management of renewable energy projects will be underpinned by access to long-term capital."

The Aula Energy business model has been designed to span the full "develop, build, own, operate" project lifecycle, said Macquarie, with construction of Boulder Creek Wind Farm in Queensland state expected to begin in 2024.

The initial portfolio included a series of large-scale onshore wind farms in Western Australia, state which could total up to 2.4GW, said Macquarie.

Write to Alice Uribe at alice.uribe@wsj.com

(END) Dow Jones Newswires

November 19, 2023 19:18 ET (00:18 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.