Macquarie offers £500m of green loans
Macquarie is offering £500m of green financing to renewable energy, energy efficiency and other environmentally-friendly projects, as part of a new £2bn loan facility.
The scheme is the first to adopt the green loan principles published by the Asia Pacific Loan Market Association in March. The guidelines are based on a similar blueprint to the widely adopted green bond principles set by the International Capital Markets Association.
To access the loans, projects must provide “clear green benefits”. Macquarie said it has seen “strong” interest from global financial institutions, particularly those in Asia, in providing financing for such projects.
“This transaction further demonstrates the leading global role Macquarie is playing in growth of green finance and the development of new renewables capacity,” said the group’s chief financial officer, Alex Harvey.
Macquarie has so far funnelled more than £15bn of investment into green infrastructure, supporting the creation of 20GW of generation capacity, with a further 7GW in the pipeline.
Last year the bank acquired the Green Investment Group (GIG) from the government for £2.3bn. The methodology developed for the GIG’s green impact assessment service will be used for future annual reporting on the new loan facility.
This article first appeared on edie’s sister title, Utility Week
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