Macquarie Acquires Minority Stake in D.E. Shaw’s Green Energy Division for Up to $1.73 Billion

Macquarie Group’s asset management division is set to acquire a minority stake in the renewable energy sector of U.S. investor D.E. Shaw through an equity investment potentially reaching $1.73 billion, as announced by the Australian firm on Tuesday.

This agreement, pending regulatory approvals, involves Macquarie Asset Management’s funds partnering with D.E. Shaw Renewable Investments (DESRI), which reportedly has a development pipeline exceeding 25 gigawatts.

Macquarie’s investment arrives amidst increasing global geopolitical instability, elevated borrowing costs, and persistent inflation. The move highlights the growing demand from businesses and governments for cleaner energy sources in their efforts to tackle climate change.

William Demas, head of Macquarie Asset Management Green Investments for the Americas, expressed confidence in the collaboration: “We believe that this partnership with DESRI positions Macquarie Asset Management effectively to seize this opportunity and facilitate the transition to net zero.” He emphasized the importance of trusted partners in the expanding renewable energy market to better serve suppliers and customers.

DESRI operates across 24 states, boasting over 10 gigawatts of generation capacity.

The investment was first reported by Bloomberg News earlier on Tuesday.