Macquarie Capital has used its 2017 operational briefing to emphasise its support of green energy investment.
Group head of the advisory and principal investment arm of Macquarie, Tim Bishop, said there was US$1 trillion of green energy investment expected for the group over the next five years. US$20 billion is expected to occur in Australia, while the majority – US$600 billion – will happen in Asia.
In an interview published on YouTube, Bishop said real estate and green energy would be the sectors to drive Macquarie’s profitability.
“What’s going on in green energy globally is an exciting story through Europe and now increasingly in Asia,” he said. “And whether that is solar in Japan, or offshore wind farms in Taiwan or waste plants in Korea, we’re big believers in that and we have the expertise to be able to pursue those opportunities.”
He said the “secret sauce” of Macquarie’s success was having traditional investment bankers sitting alongside “people with deep operational and technical expertise”, such as engineers, geologists or project management specialists.
Macquarie hits back at “vampire roo” claims
The news comes just weeks after Macquarie was slammed as unsuitable to purchase the UK’s Green Investment Bank. Concerns about its track record of asset stripping had some labelling it a “vampire roo”.
Macquarie hit back at criticism, with a spokesman saying a series of “inaccurate reports” did not reflect Macquarie’s “role as a long-term investor in global infrastructure or our longstanding commitment to renewable energy investments”.
“Macquarie and its managed funds are long-term investors in infrastructure and renewable businesses. Macquarie’s managed funds typically have an investment life of 10-15 years,” the spokesman said.
“Macquarie is currently seeking long-term investments in the UK low-carbon economy across sectors such as energy efficiency, biomass, energy from waste, onshore wind, offshore wind, solar, tidal and energy storage.”
Macquarie Group today revealed it expected to post a $2 billion profit in the year to 31 March.