GIG Progress Report highlights growth of development portfolio

05 October 2021

  • Macquarie’s Green Investment Group (GIG) publishes its Progress Report for 2021
  • The report highlights the growth of GIG’s global development portfolio to over 30 GW through the evolution of its business strategy from investing in individual assets, towards the creation of specialist development platforms and partnerships for both established and emerging technologies

Macquarie’s Green Investment Group (GIG) has today published its annual Progress Report. Highlighting key transactions and developments from the reporting period,1 the report outlines GIG’s evolving business strategy, includes detailed green impact reporting and provides an introduction to GIG’s approach to net zero.

Highlights from the past year include:

  • Securing rights to develop the 1.5 GW Outer Dowsing Offshore Wind Farm in the UK, and establishing partnerships to bid for offshore projects in Scotland, France and Norway;
  • Launching Cero Generation, GIG’s specialist European solar development platform, one of Europe’s largest dedicated solar development companies;
  • GIG portfolio company Blueleaf Energy’s expansion into Japan, the Philippines and India;
  • Establishing a new partnership with Heliox to deliver a pioneering charging-as-a-service solution for fleet electrification; and
  • Acquiring GIG’s first utility-scale battery storage portfolio in the UK from Capbal.

“To deliver the green energy capacity that’s so critical to achieving our global climate ambitions, we urgently need to increase the volume and pace of projects under development.

"That’s why this year, GIG’s focus has been on the creation and growth of specialist development businesses and partnerships. 

"Instead of focusing on individual assets, our platform and partnership model enables us to amplify the impact of our investments by advancing multiple gigawatt scale portfolios with teams of technical experts, ultimately delivering transformational volume into the market. 

"It's an approach that works for established technologies like solar, as well as newer technologies such as battery storage, and it has enabled us to grow our global development pipeline to well over 30 GW.”

Mark Dooley
Global Head, Green Investment Group

The report has been published on day one of the Macquarie Green Investment Group Green Energy Conference 2021. Held virtually for the second year in a row, the conference features leading voices from industry, finance and policy discussing how to turn climate ambition into climate action; the role of technology and carbon markets in achieving net zero; and how to accelerate climate finance in emerging markets.

Learn more about the Macquarie Green Investment Group Green Energy Conference 2021 at

Read the full Progress Report on GIG’s website.

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1. Reporting period - 1 September 2020 to 31 August 2021, unless stated otherwise.