renewables

The world’s fourth largest wind market is looking to have 5GW of offshore wind installed in the next five years, on top of its 60GW onshore target by 2022.

The renewables- and impact-focused investment firm has added former Threadmark executive Andrew Harris to its business development team.

The collection of loans to green energy projects closed with a cornerstone investment from the Clean Energy Finance Corporation.

An overnight agreement led to an initial 27% target for 2030 being increased to 32% and recommendations for member states to ‘avoid’ retroactive changes.

While the infrastructure fund manager has ruled out a second PINAI fund, it is exploring other opportunities in the country in separate discussions with the fund’s LPs.

The vehicle - which has invested in Europe, the US and Australia - has garnered over €400m to date but is still open to further fundraising.

Bryn Gostin, a former attorney, has joined the firm as head of product development and strategic initiatives.

Hajir Naghdy, chairman of Macquarie Capital Asia, tells Infrastructure Investor how his firm is tapping into the region’s renewables space, especially the offshore wind sector in North Asia.

The fund’s predecessor is now 95 percent divested, while the new fund has made investments in Germany, France and Norway.

The fund has been seeded with a stake in a 185MW portfolio, with future India-focused vehicle launches under consideration.