- GIG of Macquarie has completed its investment in US renewables developer Galehead Development
- It helps GIG expand its US footprint in green energy while for Galehead the investment supports its expansion plans
- Galehead will also be able to advance its 6 GW pipeline of solar PV, wind and co-located storage projects currently at early- to mid-stage
Boston, US based renewable energy development platform Galehead Development has secured undisclosed amount as investment from Macquarie’s Green Investment Group (GIG) to advance its 6 GW pipeline of solar PV, wind and co-located storage projects.
This 6 GW capacity includes renewable energy projects that are currently at early- to mid-stage, stated Galehead that will also use proceeds to enter new markets and explore new commercial applications for its proprietary geospatial and land analytics platform for greenfield projects called LandCommand.
Galehead has so developed and monetized 5 GW of renewable energy projects and counts an additional 4 GW under active development under existing joint development agreements.
For GIG, the investment expands its US footprint where it is already invested in Savion, LLC that was launched in November 2019 with over 8 GW utility scale solar and energy storage pipeline. In March 2022, French solar power project developer Reden Solar found new owners in Macquarie Asset Management and partners that agreed to acquire the company from InfraVia Capital Partners and Eurazeo for a total enterprise value of €2.5 billion (see Macquarie Invests In Reden Solar).
Globally, Macquarie oversees investments in more than 46 GW green energy capacity and is currently developing over 30 GW of renewable capacity globally through GIG and its portfolio companies.