MIRA preps debut renewables fund

16 April 2019 - 12:00 am UTC

Macquarie Infrastructure and Real Assets is looking to launch its first dedicated renewable energy fund.

The new vehicle will only invest in wind and solar assets and MIRA is looking to raise EUR1-1.5bn (USD 1.13-1.69bn), sister publication SparkSpread has learned.

It has not begun fundraising.

A MIRA spokeswoman declined comment.

To date, MIRA has invested in the European renewables sector through its first five Macquarie European Infrastructure Funds.

Its sixth MEIF fund, MIEF 6, will not invest in wind and solar assets, but will look at other forms of renewable energy generation, says a source.

MIRA also manages the Green Investment Group Offshore Wind Fund, a GBP 1bn (USD 1.30bn) fund that was purchased through a Macquarie-consortium’s acquisition of the UK Green Investment Bank.

MEIF was established in 2004 and the first five funds collectively have more than EUR 14bn in investor commitments.

MEIF5 had its first and final close in September 2016 with total commitments of EUR 4bn.

It launched fund-raising for MEIF 6 last year.

 

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