Press Release March 11, 2021

Macquarie Raises €1.6 Billion For Renewable Energy Investment

The Private Investment Funds team at Goodwin advised Macquarie Infrastructure and Real Assets (MIRA) on raising more than €1.6 billion for investment in renewable energy with the final close of Macquarie Green Investment Group Renewable Energy Fund 2 (MGREF2) — exceeding its initial minimum fundraising target of €1 billion.

MGREF2 is a 25-year closed-end fund which will invest in a diversified portfolio of assets including platforms and construction and operational stage wind and solar projects in Western Europe, the United States, Canada, Mexico, Japan, Taiwan, Australia, and New Zealand. MGREF2 was launched following the success of its predecessor fund Macquarie Green Investment Group Renewable Energy Fund 1 (MGREF1), the world’s first dedicated operational offshore wind fund.

MIRA is the world’s largest infrastructure manager and a major global investor in clean energy, overseeing investments in 12.3 GW of green generation capacity globally.

The successful fundraising of MGREF2 continues the longstanding relationship between MIRA and Goodwin’s Private Investment Funds team, with the team having advised on several of MIRA’s previous funds, including Macquarie European Infrastructure Fund 6, which closed at its hard cap of €6 billion in 2019.

The Goodwin team advising on the MGREF2 fundraise was led by Ajay Pathak and Saujanya Hosmani, and included Laura Charkin, Charlotte Haywood, Priya Patel, Alexandrine Armstrong Cerfontaine, Oana Millich, Diane Carolus, Glynn Barwick, Brynn Peltz, Karen F. Turk and Sonita Bennitt.

For more details, read the press release.