Macquarie putting billions into wind energy projects



Macquarie Group, the same company sued by the state of Kansas following the 2021 Winter Storm Uri and also under investigation by the state of Oklahoma is pouring billions into an offshore wind project through one of its divisions.

Macquarie Asset Management, the asset management division of Macquarie Group , is investing $50 billion through  its subsidiary, Corio Generation Ltd. over the next seven years in New York, New Jersey, Scotland, England, Taiwan and Ireland. TotalEnergies SE is also a partner in the investments, accoridng to Chief Executive Officer Jonathan Cole.

Bloomberg reports Macquarie, an Australian financial giant, is going where other investors have declined to go.

Macquarie was sued by Kansas following the 2021 winter storm and accused of manipulating natural gas prices to take advantage of the wintry conditions. Oklahoma Attorney General Gentner Drummond has an ongoing investigation into the same allegations of market manipulation in which Oklahoma naturall gas prices reached the highest level ever in the U.S.

The Kansas Attorney General charged Macquarie called a force majeure during the storm, a legal move that allowed the company to void contracts with distributors and put new ones in place with inflated prices.

Click here for Bloomberg