The renewable-energy division of Macquarie Group has launched a new business, Aula Energy, with plans to develop, build and operate wind, solar and integrated battery projects across Australia and New Zealand. The new business will have an initial portfolio with an expected capacity of 4 gigawatts, with planned projects spanning all Australian states.

According to Lachlan Creswell, head of Macquarie Asset Management’s specialist green investments team for Australia and New Zealand, the new business is expected to diversify and grow the company’s onshore portfolio as demand from investors for opportunities in renewable-energy assets increases. “The energy transition in Australia requires an acceleration in the deployment of new renewable generation,” he said.

The Aula Energy business model has been designed to span the full “develop, build, own, operate” project lifecycle. Construction of Boulder Creek Wind Farm in Queensland state is expected to begin in 2024. The initial portfolio includes a series of large-scale onshore wind farms in Western Australia which could total up to 2.4GW.

This expansion signifies a significant step towards increasing renewable energy generation in Australia and New Zealand while also meeting the growing demand for investment opportunities in this sector. With plans to diversify and grow the company’s onshore portfolio, Aula Energy is poised to play a key role in the energy transition of both countries by focusing on long-term partnerships and access to capital.