Financial group Macquarie has announced today its intention to issue a £500 million loan facility directed toward green energy.
The loan forms part of a larger £2 billion facility issued by the company, with the £500m green energy portion to support renewable energy projects initially, and energy efficiency, waste management, green buildings and clean transportation projects.
Macquarie Group said that it “intends to utilise the market-leading, proprietary green impact assessment and reporting for eligible projects” set out by the Green Investment Bank.
The Green investment Bank was acquired by Macquarie in 2017 in a £2.3 billion deal, changing the name to the gReen Investment group (GIG).
Alex Harvey, Macquarie’s chief financial officer, said: “This transaction further demonstrates the leading global role Macquarie is playing in growth of green finance and the development of new renewables capacity. The future utilisation of our Green Investment Group’s market-leading Green Impact Assessment approach is another example of the value delivered by our acquisition of GIG in 2017.”