Macquarie Group Limited (Macquarie) has announced plans to support the delivery of over £12 billion in sustainable infrastructure investment across the UK.
Macquarie will invest directly, mobilize co-investment, and support major investments through portfolio companies’ capital expenditure programs to help communities meet their needs for smart, sustainable infrastructure that is aligned with the UK’s net zero goals.
This is in addition to Macquarie’s long-standing commitment to the United Kingdom, where it has invested and operated since 1989. Macquarie has invested and arranged more than £50 billion in essential infrastructure across the UK over the last 15 years.
Macquarie’s activities will support investment in ten priority areas across the economy:
- Promoting offshore wind energy
Developing and investing in UK offshore wind, including the construction of up to 1.5 GW of new generation capacity off the coast of Lincolnshire and up to 2 GW of new capacity off the coast of Scotland’s northern coast west of Orkney.
Macquarie has backed more than half of the UK’s operational offshore wind capacity, and the Green Investment Group (GIG) recently announced the launch of Corio Generation, a specialist offshore wind company based in the UK with a 15 GW global development pipeline.
- Increasing the capacity of solar power generation
Cero Generation, a GIG portfolio company, is developing 3 GW of solar capacity across England and Wales.
- Increasing the storage capacity of batteries
Developing a portfolio of new battery storage capacity across the United Kingdom, including sites in Scotland and the South East. More renewable energy capacity will be able to connect to the UK’s electricity grid thanks to the portfolio.
- Investigating low-carbon hydrogen options
Cadent, the UK’s largest gas distribution network, is working with investment partners to support the development of hydrogen-ready gas transmission and distribution networks to help decarbonize the UK’s energy system. GIG is also working to establish hydrogen hubs in Southampton and Orkney to aid in the reduction of emissions from energy-intensive industries in the UK.
- Increasing the speed with which electric vehicle charging infrastructure is developed
The motorway service area operator Roadchef’s energy transition strategy is improving access to fast-charging electric vehicle infrastructure across the UK’s motorway network. GIG has also teamed up with Heliox to provide Charging-as-a-Service infrastructure for electric buses and trucks across the UK.
Investing in carbon capture and storage (CCS) is number six.
Investing in Storegga, the developer of the Acorn Project in northeast Scotland, to use the UK’s existing oil and gas infrastructure to receive and store CO2 captured from UK industrial activities, as well as create complementary hydrogen production facilities, using the UK’s existing oil and gas infrastructure.
- Improving the infrastructure for water and wastewater
Southern Water is collaborating with investment partners to upgrade its network to support a growing population while also delivering improved environmental outcomes in the face of climate change.
- Increasing gigabit broadband speeds
Supporting investment at KCOM to expand access to ultra-fast fibre broadband across the North of England and in rural communities via Voneus, a Macquarie-backed company that provides super-fast wireless broadband and ultra-fast fibre to rural English communities.
- Improving the infrastructure for transportation
Supporting Aberdeen, Glasgow, and Southampton (AGS) airports in their efforts to achieve net zero direct emissions by the mid-2030s, in collaboration with our investment partners. Creating new road infrastructure that can accommodate zero-emission public transportation.
This investment will help to implement the UK Government’s Ten Point Plan for a Green Industrial Revolution and Infrastructure Strategy, which will benefit all of the country’s regions. In some cases, project investment is contingent on final development consents and approvals.
