Australia-based financial investor Macquarie has informed the U.K. ministers in black and white as confirmation of funding a multi-billion-pound environmental-friendly project, being a part of an agreement with the Green Investment Group from the government three years ago.
With the acquisition of the Green Investment Group in 2017, Macquarie had committed to fund £3 billion in green energy projects in the UK and across Europe over the following three years.
Over £3.1 billion of the funding went to U.K. in October 2020, and £6.9 billion globally, as per the Australian company.
In a letter, Macquarie Capital’s Global Co-head and Chairman of Green Investment Group, Daniel Won writes of remaining steadfast to his original mission. The letter was addressed to British Energy Minister Kwasi Kwaten and also highlights the growth reflects the purpose of the U.K. government, high-level investment of capital in green energy projects, increase in technologies operated by GIG.
Established in 2012, Macquarie works in attracting private capital into energy conservation projects, waste power plants, and offshore wind farms. Currently, the bank functions in 25 nations with over 450 staff and increasingly working toward investing in renewable energy storage.