Macquarie’s GIG to acquire PV, storage unit of Tradewind Energy

Facebook
Twitter
LinkedIn
Reddit
Email
Savion boasts a project development pipeline of 6GW of solar and energy storage development projects. Image: Enel Green Power

Macquarie’s Green Investment Group (GIG) has signed off on a definitive agreement to acquire the PV and energy storage unit of Tradewind Energy, a subsidiary of Enel Green Power North America.

This unit, named Savion, is an integrated US solar and energy storage development platform that boasts a project development pipeline of 6GW of solar and energy storage development projects. Upon closing, Savion will be managed by former Tradewind principals Rob Freeman and Geoff Coventry. The transaction is expected to close by mid-2019, pending regulatory approval.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Chris Archer, head of Green Energy Americas for Macquarie Capital, said: “The US solar market presents a very attractive investment opportunity and we see strong fundamentals driving future growth. The commitment we announce today is a continuation of GIG’s strategy in US utility-scale solar. Tradewind’s seasoned team of specialists have built a leading solar and storage development platform that we expect to thrive in partnership with GIG.”

Nick Butcher, global co-head of infrastructure and energy at Macquarie Capital, added: “GIG backs developers around the world to invest in, manage and provide services to green energy projects. We are confident that Savion will benefit greatly as part of our growing global platform. We are delighted with our partnership with Savion, which will deliver significant scale in US solar development and storage and continue to advance GIG’s position as a leading global developer and investor in green energy projects.”

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA