Macquarie Group Commits To Renewable Energy Investments In The Philippines

President Ferdinand R. Marcos Jr. of the Philippines secured a commitment from Australia’s Macquarie Group Ltd. to invest in renewable energy, value-added mining, and digitisation during the ASEAN-Australia Special Summit in Melbourne.

According to Australian media reports Macquarie Group’s Managing Director and CEO, Shemara Wikramanayake, discussed Macquarie’s interests in energy transition, mining, and the digitalization process with President Marcos.

In 2012, Macquarie managed the first and largest infrastructure fund for the Philippines, and in 2017-2018, it acquired a majority stake in the Energy Development Corporation, the country’s largest renewable energy company.

The Sydney headquartered group aims to partner with Southeast Asian countries including the Philippines to contribute to pension savers’ investments in infrastructure and other sectors.

Philippine President Marcos welcomed the commitment, emphasising the importance of digitisation for ease of doing business. Macquarie Group Limited, with over 15 years of operation in the Philippines, has more than 1,000 direct employees through Macquarie Offshore Services.