Macquarie Group’s green investment division has announced the launch of a new renewable energy business, Aula Energy, which aims to develop, build and operate wind, solar and integrated battery projects across Australia and New Zealand. The company plans to invest in projects with an initial portfolio expected to have a capacity of 4 gigawatts, spanning all Australian states.

The new business will be led by Lachlan Creswell, head of Macquarie Asset Management’s specialist green investments team for Australia and New Zealand. He said that the energy transition in Australia requires an acceleration in the deployment of new renewable generation. “The Aula Energy team’s experience, long-term partnership approach to the creation and management of renewable energy projects will be underpinned by access to long-term capital,” he stated.

Aula Energy’s business model is designed to span the full “develop, build, own, operate” project lifecycle. Construction of Boulder Creek Wind Farm in Queensland state is expected to begin in 2024. The initial portfolio includes a series of large-scale onshore wind farms in Western Australia which could total up to 2.4GW. This expansion signifies a significant step towards increasing renewable energy generation in Australia and New Zealand as well as meeting the growing demand for investment opportunities in this sector. With plans to diversify and grow its onshore portfolio, Aula Energy is well positioned to play a key role in the energy transition of both countries by focusing on long-term partnerships and access to capital it is ready to develop, build and operate wind, solar and integrated battery projects across the region.