Funds face big call on European energy

By the Editorial Team · Monday, June 29, 2026

Australian and New Zealand investors, led by Macquarie Asset Management and firms like Galileo Empower, are significantly increasing their investments in European and UK renewable energy infrastructure, including wind farms and battery storage projects. This surge in capital supports the expansion of nearly 4.2 GW of renewable energy capacity across multiple countries, addressing rising energy demand intensified by recent heatwaves and signaling ongoing plans for new financing in the sector.

European and UK energy infrastructure projects are attracting significant interest from Australian and New Zealand investors amid a broader push to expand renewable generation and storage capacity. The recent heatwave across the region has underscored growing demand for energy solutions such as air conditioning, further intensifying investment activity in the power sector.

Australian giant Macquarie Asset Management (MAM) has been particularly active in this market, completing several transactions earlier this year. Between February and April, MAM acquired Energy Assets Group in the United Kingdom while divesting stakes in Evryo and Onstream, signalling a strategic recalibration within its energy portfolio.

Investment flows are focused primarily on distribution and infrastructure assets within the power system, but there is a notable expansion into generation projects. A prominent example is Galileo Empower, a UK-based renewable energy developer with a project pipeline nearing 1.9 gigawatts (GW) awaiting permits and an additional 2.3 GW projected for submission in 2027.

Galileo Empower has announced plans to invest approximately €170 million (AUD 280.8 million) across projects spanning Ireland, the UK, Germany, Sweden, and Finland by 2030. To date, the company has committed €117 million in capital and expects 13 projects to reach critical planning or development milestones within the next 18 months.

Among recent approvals secured by Galileo Empower are the 49.6 megawatt (MW) Craighead Wind Farm and the 49.9 MW Middlerigg Battery Energy Storage System, both located in Scotland. The company also holds planning applications for several larger developments, including the 497 MW Dornell Extension Wind Farm (Scotland), the 100 MW Myndd Ty Talynn hybrid wind and solar facility (Wales), the 84 MW Windischeschenbach wind farm (Germany), and the 90 MW Derra West solar farm (Ireland).

With the funding window for such projects closing, Galileo Empower is expected to seek additional financing from institutional capital markets to advance this portfolio. Current stakeholders include Morrison & Co, New Zealand’s Infratil, and Australian and New Zealand superannuation funds CSC and NZ Super, which collectively hold 80 percent ownership. The remaining 20 percent is owned by the company’s management, founders, and staff.

These investors may consider injecting more equity capital as project development progresses, but the timing and appetite for further funding remain under close observation. The evolving dynamics in European energy markets and the influx of Australasian capital highlight the growing interconnectedness of global renewable energy investment.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.