Macquarie Asset Management’s Green Investment Group (GIG) gas bought US clean energy platform Treaty Oak Clean Energy for an undisclosed amount.
Texas-headquartered Treaty Oak develops, commercialises, builds and operates utility-scale solar plus storage projects in targeted US energy markets.
Mark Dooley, global head of Green Investment Group, said: “The US renewables market is embarking on a period of enormous growth, driven by the unprecedented policy tailwind created through the passage of the Inflation Reduction Act.
“Treaty Oak’s deep understanding of the US power markets, and its distinguished development, commercialization and execution capabilities make it an ideal platform for GIG to further expand its footprint in the US and accelerate the transition to net zero.”
William Demas, the head of Green Investment Group in the Americas, said:
“We are excited to partner with the Treaty Oak team and combine their track record of developing high-quality projects with GIG’s objectives of being a long-term owner of valuable solar plus storage projects in the Americas and beyond.
“We look forward to building on the relationship developed with the Treaty Oak team over the last several years.”
Chris Elrod, chief executive officer at Treaty Oak, said: “Macquarie Asset Management’s Green Investment Group is an ideal long-term owner of Treaty Oak.
“We are pleased to enter into this partnership with GIG, and we look forward to working with the GIG team to deliver on our clean energy growth ambitions across targeted US power markets.”
Rohit Ogra, chief revenue officer at Treaty Oak, said: “Based upon our experience, we have a clear perspective on the value of clean, renewable energy for our customers and the communities in which we operate.
“In GIG we have a long-term partner that shares our fundamental views on power markets and the significant opportunities therein to maximize the value of our generation assets.”
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