Australian financial giant Macquarie Capital is launching a North American investment unit that focuses on financing environment-friendly projects.
Macquarie is bringing its Green Investment Group (GIG) to Canada and the U.S. The bank, which already operates similar businesses in Europe and Asia, says the unit will focus on investing in renewable energy projects and related sectors.
“The launch of the Green Investment Group in North America focuses our long-term strategic commitment to the renewable energy sector and strengthens our ability to develop and construct green energy projects in the region,” said Nick Butcher, global co-head of infrastructure and energy for Macquarie Capital, in a release.
GIG was first launched in the U.K. in 2012 as the Green Investment Bank, which was acquired last year by Macquarie Group.
“We believe that the renewables sector in North America is poised for a prolonged period of growth as falling technology costs, combined with growing demand from corporates and utilities, drive increasing deployment,” added Chris Archer, head of green energy Americas with Macquarie.