Macquarie Asset Management has completed a significant minority investment in renewable energy company DESRI via several Macquarie-managed funds.
The investment is intended to enable DESRI, which develops, owns, and operates utility-scale solar, wind, and battery storage projects throughout the US, to continue its growth and enhance its market position.
William Demas, Head of Macquarie Asset Management Green Investments in the Americas, says the investment represents an important milestone in the firm’s partnership with DESRI to expand access to renewable energy.
DESRI Chief Executive David Zwillinger echoes those sentiments, adding that the company’s partnership with Macquarie will help accelerating that growth.
DESRI and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the US. Its portfolio of contracted, operating, and in-construction renewable energy projects currently includes 70 solar and wind projects representing more than ten gigawatts of aggregate capacity.
Macquarie Asset Management is a global asset manager, integrated across public and private markets. It manages about $US634 billion in assets, providing a range of investment solutions including real assets, real estate, credit and equities, and multi-asset.
It is part of Macquarie Group (ASX:MQG), a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs more than 20,000 people in 34 markets and is listed on the Australian Securities Exchange.
Write to Adam Orlando at Mining.com.au
Images: DESRI
