the Asian Renewable Energy Hub has announced it will take an equity stake in Macquarie Group (AREH)’s $22bn renewable energy project in Australia. The company will offer an undisclosed level of development capital as part of the deal, with the investment also increasing the overall capacity of the scheme from 9 GW to 11 GW. The hub plans to build wind farms and solar panels in Pilbara, northwest Australia to supply local energy users, and export clean power to southeast Asia, subject to approval from the Western Australia government.
Macquarie Group has announced it will take an equity stake in the Asian Renewable Energy Hub (AREH)’s $22bn renewable energy project in Australia. The company will offer an undisclosed level of development capital as part of the deal, with the investment also increasing the overall capacity of the scheme from 9 GW to 11 GW. The hub plans to build wind farms and solar panels in Pilbara, northwest Australia to supply local energy users, and export clean power to southeast Asia, subject to approval from the Western Australia government.