(MAM) is taking full control of US-based renewable-energy development platform Galehead Development (GDF).
MAM, an investor in Galehead since July 2022, said it has agreed to buy the remaining controlling interest from Galehead Founders. Financial details were undisclosed.
Galehead, with over 20GW of projects, will become a subsidiary of US independent power producer Treaty Oak, another Macquarie-backed company.
The deal expands Treaty Oak鈥檚 market reach through Galehead鈥檚 pipeline of solar, wind and storage projects, MAM said.
Peter Zhu, MD of Asset Management Green Investments, said: 鈥淲e believe that US renewables continue to play a crucial role in today鈥檚 power demand-driven market.
鈥淭his transaction provides MAM with enhanced access to an attractive pipeline, well-positioned to meet the growing energy needs of data centres and industrial load customers.鈥�
Chris Elrod, Treaty Oak CEO, said: 鈥淲e see a tremendous opportunity to create value by combining the strengths of two excellent organisations.
鈥淚 look forward to welcoming the Galehead team and am confident that together we can achieve greater scale and stronger performance.鈥�
The transaction also allows GDF to spin off ETX Upstream, which will focus on non-renewable energy transition projects.
Matt Marino, ETX Upstream CEO, said: 鈥淭he spin-out of ETX Upstream will allow us to replicate the proven success of the LandCommand Platform in emergent energy transition verticals.
鈥淚n launching ETX Upstream, we鈥檙e excited to tackle some of the biggest barriers and challenges to a timely and fully realised energy transition.鈥�
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