Hydro Rein, a renewable energy company, and Macquarie Asset Management, a global investment management company, have announced a partnership aimed at expanding their renewable energy portfolio. The collaboration is part of both companies’ commitment to achieving net-zero emissions and making significant strides towards a more sustainable future.
The partnership between Hydro Rein and Macquarie Asset Management is built on a long-standing and successful relationship. They are currently working together on a large-scale onshore wind farm project in Brazil, which will supply electricity to Hydro’s bauxite mine and alumina refinery through Power Purchase Agreements (PPAs). This project is a testament to their shared vision of transitioning industries towards clean energy sources.
In addition to the wind farm project in Brazil, Hydro Rein and Macquarie have collaborated on wind farm projects in Sweden in recent years, contributing to the development of long-term PPAs in the Nordic market. These endeavors demonstrate their expertise in renewable project development and commitment to reducing CO2 emissions.
President and CEO of Hydro, Hilde Merete Aasheim, expressed her excitement about the partnership with Macquarie Asset Management, stating that their commercial strength and global renewable project development expertise will complement Hydro Rein’s efforts to decarbonize industries.
Hydro Rein, which was launched less than three years ago, has already achieved significant milestones in its renewable energy ambitions. The company has developed an impressive portfolio of renewable energy projects, all of which will play a crucial role in reducing CO2 emissions for Hydro and other industries.
Since its inception in 2021, Hydro Rein has built a considerable portfolio of renewable energy projects and contracts with industrial off-takers. Currently, their joint venture with Macquarie Asset Management has a portfolio pipeline of 6.9 GW (gross capacity), including projects in the Nordics and Brazil at various stages of development. Notably, Hydro Rein’s captive share in the four projects currently under construction will amount to 1.7 TWh.
This partnership between Hydro Rein and Macquarie Asset Management marks an important milestone in Hydro’s strategy to grow in the renewable energy sector. With their shared vision and expertise, they are poised to accelerate the transition to clean energy and contribute to a more sustainable future.
In conclusion, the partnership between Hydro Rein and Macquarie Asset Management will strengthen their renewable energy portfolio and pave the way for further advancements in the fight against climate change. Their collaboration demonstrates the importance of strategic alliances in driving the transition to clean energy and achieving net-zero emissions. With their combined efforts, they are poised to make significant contributions to reducing CO2 emissions and building a more sustainable world.
