Macquarie Asset Management’s Green Investment Group Completes Investment in Galehead Development
Macquarie Asset Management’s Green Investment Group (GIG) and Galehead Development (Galehead) announced the close of an investment by GIG in Galehead, a leading US-based renewable energy development platform and trusted partner to global utilities, independent power producers and large US corporates for planning, managing and delivering renewable energy projects.
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“We are thrilled to achieve our strategic objectives through the structuring and closing of this investment. GIG’s capital commitment strengthens Galehead’s balance sheet, access to institutional resources and our internal capabilities for delivering transformative clean energy projects to our downstream partners”
Galehead is differentiated by its proprietary LandCommand® technology and specialized front-end development capabilities. Since 2016 the company has successfully developed and monetized 5 GW of solar PV, wind and co-located storage projects and is actively developing an additional 4 GW through existing joint development arrangements. GIG’s investment will allow Galehead to advance a further 6 GW of early to mid-stage renewable energy projects, enter new markets and explore new commercial applications for its LandCommand® platform. The Galehead partnership and pipeline will contribute towards GIG’s strategy of owning both development and operating-phase renewable energy assets.
“The US renewables market is embarking on a period of enormous growth, driven largely by the core renewable technologies of solar and wind,” said Mark Dooley, Global Head of Green Investment Group. “With its proven track-record and strong pipeline of early- to mid-stage development projects, Galehead is well positioned to be at the forefront of this growth. Our partnership enables us to expand GIG’s footprint in the US and marks the start of an exciting new phase in our work to accelerate the transition to net zero.”
GIG is a specialist green investor within Macquarie Asset Management, and a global leader in the development of companies, assets and technologies that aim to accelerate the global transition to net zero. The asset manager oversees investments in more than 46 GW of capacity, and through GIG and its portfolio companies, is currently developing over 30 GW of renewable energy capacity globally.
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“Macquarie Asset Management’s Green Investment Group is an ideal long-term capital partner for Galehead to advance our vision for ‘developing a century of Impact Infrastructure.’ We are proud to continue the long tradition of GIG’s pioneering investments in the energy transition, and we are excited about working together to expand the Galehead platform,” said Galehead CEO Matt Marino.
“We are thrilled to achieve our strategic objectives through the structuring and closing of this investment. GIG’s capital commitment strengthens Galehead’s balance sheet, access to institutional resources and our internal capabilities for delivering transformative clean energy projects to our downstream partners,” added Galehead COO Patrick Martin.
Already an established market for renewable energy with 37 GW installed during 2021, we believe the US is set for further strong growth over the course of this decade. It is estimated that the US will account for a significant portion of the global renewable energy growth expected between now and 2030.1
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