Macquarie to take minority stake in DE Shaw’s

Macquarie Group’s asset management unit has acquired a minority stake in the green energy unit of U.S. investor DE. The Australian firm announced on Tuesday it will invest up to $1.73 billion in DE’s share capital.

Macquarie Asset Management, a fund managed by Macquarie Asset Management and DE Shaw Renewable Investments, or DESRI (Development Energy Services and Renewable Investments), has more than 25 gigawatts in the pipeline, according to Macquarie.

Macquarie’s investment comes as global companies grapple with geopolitical headwinds, high interest rates and high inflation.

This investment is clear evidence that both corporations and governments are demanding cleaner energy sources and responding to climate change.

William Demas is head of Macquarie Asset Management Green Investments in the Americas. He said: “We are confident that our partnership with DESRI will enable Macquarie Asset Management to capitalise on this opportunity and accelerate our transition to net zero carbon emissions.”

Both suppliers and customers are looking for partners who can consolidate and scale the renewable energy market.

According to its website, DESRI has generating capacity exceeding 10 gigawatts in 24 states.

Bloomberg News reported the first information about the investment on Tuesday. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh Kuber)

(source: Reuters)