The green investment division of Macquarie Group has recently launched a new renewable energy business, called Aula Energy. This new venture aims to develop, build and operate wind, solar and integrated battery projects across Australia and New Zealand. With an initial portfolio expected to have a capacity of 4 gigawatts, the company plans to spread its projects across all Australian states.

Lachlan Creswell, head of Macquarie Asset Management’s specialist green investments team for Australia and New Zealand, stated that this new business will diversify and grow the company’s onshore portfolio as demand from investors for renewable energy assets continues to rise. “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.”

Aula Energy’s business model has been designed to span the full “develop, build, own, operate” project lifecycle. Construction of Boulder Creek Wind Farm in Queensland state is expected to begin in 2024 as part of the initial portfolio. The portfolio also includes large-scale onshore wind farms in Western Australia which could total up to 2.4GW.

This expansion of Macquarie’s green investment division represents a significant step towards increasing renewable energy generation in Australia and New Zealand while meeting the growing demand for investment opportunities in this sector. With plans to diversify and grow its onshore portfolio, Aula Energy is well-positioned to play a key role in the energy transition of both countries by focusing on long-term partnerships and access to capital.