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Macquarie Asset Management invests $332 million in Hydro Rein

Macquarie Asset Management (Macquarie) has completed a $332 million investment to acquire 49.9% of Hydro Rein. This transaction will support the development of Hydro Rein's renewable energy projects, consolidating its presence in the Nordic and Brazilian markets.

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Hydro Rein Macquarie investissement énergétique

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Macquarie Asset Management (Macquarie) has finalized its $332 million investment in Hydro Rein, acquiring a 49.9% stake. This transaction, originally announced for October 2023, is designed to support the development of Hydro Rein’s renewable energy projects.

Strengthening Hydro Rein’s Strategic Position

Hydro Rein, a major supplier of renewable energy to the industrial sector, has a gross development capacity of 8.4 GW in its main markets, notably the Nordic countries and Brazil. Since its creation in 2021, Hydro Rein has established strong industrial partnerships, including long-term power purchase agreements of 5.3 TWh per year with facilities such as the Alunorte alumina refinery, the Albras primary aluminum plant and the Paragominas bauxite mine.

Macquarie’s objectives and outlook

Macquarie’s investment will be held by the Macquarie Green Energy and Climate Opportunities Fund, aimed at financing Hydro Rein’s pipeline of projects under construction and development. This financial support will enable Hydro Rein to strengthen its capacity andexpand its portfolio of energy projects. Mark Dooley, Global Head of Green Investments at Macquarie Asset Management, said:

“This investment represents an important milestone for our partnership with Hydro and our commitment to renewable energy.”

Continuity of collaboration

Eivind Kallevik, President and CEO of Hydro, added:

“This transaction marks a new phase in our partnership with Macquarie. Hydro Rein is well positioned to achieve its ambitious growth objectives with this support.”

Since 2017, Macquarie and Hydro have collaborated on several projects, including the development of 1.3 GW of renewable energy capacity, with notable projects in the Nordic countries and a 456 MW onshore wind farm in Brazil. These collaborations have helped strengthen Hydro’s position in the renewable energies market.
Macquarie’s strategic investment in Hydro Rein underlines the importance of collaboration in the development of energy infrastructure. By strengthening its renewable energy production capacity, Hydro Rein can better meet the needs of the industrial market while consolidating its competitive position.

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