Tuesday 14 August 2018

Green Investment Group buys Conergy’s solar projects

Green Investment Group (GIG) has announced its first acquisition in Asia that will see the organisation buy a significant solar energy portfolio.

Under the deal, GIG will take control of more than 500MW of Conergy’s solar projects across the Asia Pacific and 88 of the the latter firm’s employees will join GIG, previously called the UK’s Green Investment Bank before it was bought by Macquarie.

The portfolio also includes energy storage capabilities and a monitoring centre.

Neil Arora, head of Macquarie Capital for Asia and the Middle East said: “We are pleased to enhance our solar energy capabilities from development through to design, engineering, procurement and delivery management to build on Macquarie Capital’s solar energy track record across Asia Pacific.

“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.”