Macquarie in pole position to buy UK Green Investment Bank
Macquarie Group is in pole position for the acquisition of the entire UK Government's shareholding in the Green Investment Bank. UK government hopes sale will raise £2 billion (US$2.6 billion) as part of privatization drive.
In September, we reported two teams were competing for the acquisition:
- A team that includes Sustainable Development Capital Ltd, Pension Protection Fund (PPF), GE, Mitsui and John Hancock. The team is being advised by HSBC and JP Morgan.
- Macquarie group, which is being advised by Royal Bank of Canada.
A consortium comprising KKR and Temporis Capital canceled its bid.
Ministers are being advised on the sale by Bank of America Merrill Lynch, while the GIB's board is being advised by UBS.
UK GIB has committed £2.6 billion of capital to almost 70 green infrastructure projects across the UK. It is the most active investor in UK green infrastructure with leading market share and a clearly identified near-term UK pipeline of new transactions. GIB is well placed to play a leading role in a large and growing global market with compelling long term dynamics.
GIB’s existing portfolio of assets is performing strongly and is well diversified across different financial products, sectors, structures, technologies and counter-parties. GIB has a proven track record of enhancing the value of assets under its management.
The sale of GIB is part of a £20 billion privatization drive planned by the Treasury under the former chancellor George Osborne.
Country news
-
-
October 13, 2016
NTR acquires a 64 MW of onshore wind
NTR has added a further 64 MW to its onshore wind portfolio, with the acquisition of three projects, two in Scotland (UK) and one in Ireland, bringing the total amount of assets under management for its NTR Wind 1 Fund up to 142MW. Read more -
October 13, 2016
Lockheed Martin and CoGen to build Waste-to-Energy Plant in Wales
Lockheed Martin has signed a teaming agreement with CoGen Limited to develop waste-to-energy projects in the United Kingdom, starting with a new plant in Cardiff, Wales. Read more -
October 13, 2016
Falck Renewables completes financing of Spaldington and Kingsburn wind farms
The Falck Renewables Group, through its subsidiaries Spaldington Airfield Wind Energy Ltd and Kingsburn Wind Energy Ltd, has stipulated two non-recourse project financing loan contracts with MUFG’s core banking unit, for a total of around £45.6 million (US$55.8 million), for the wind farms of Kingsburn (Scotland) and Spaldington (England), both of which started operating in May 2016. Read more -
October 10, 2016
SUSI Renewable Energy Fund II successfully reaches final closing at €380 million
The SUSI Renewable Energy Fund II (SUSI RE II) has reached final closing at €380 million (US$425.5 million). Read more -
October 10, 2016
Financial close for Edinburgh waste-to-energy plant
UK Green Investment Bank plc (GIB) has committed £28 million (US$34 million) of debt finance to a new £142 million (US$176 million) energy-from-waste (EfW) plant at Millerhill in Midlothian, near Edinburgh, Scotland. GIB joins a lending club that includes Investec, Siemens Bank and Credit Agricole. Read more
