Investment bank Macquarie Asset Management has provided €100 million (US$98.5 million) of debt financing to Green Bidco, the parent company of solar developer Falck Renewables.
The investment represents a “valuable opportunity” to expand the development of renewables for the developer, according to senior vice president at Macquarie Asset Management, Alice Pulbrook.
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Italy-headquartered Falck has an existing portfolio of 1.4GW capacity of solar PV, wind, waste-to-energy, biomass and energy storage projects across Europe and the US.
The announcement continues Macquarie’s activity in the renewable energy sector, including its acquisition of French independent power producer Reden Solar for US$2.7 billion, the funding of a 365MW UK solar portfolio and its acquisition of a stake in UK solar developer Island Green Power earlier in the year.
The investment bank has US$11.4 billion of assets under management across infrastructure, real estate and structured credit.