Wednesday, November 30

Macquarie Says Asia Is Top Spot for Boom in Renewable Projects

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(Bloomberg) — Macquarie Asset Management plans to develop more than 50 gigawatts worth of renewable energy projects in coming years and sees Asia as a particularly attractive region, the global head of the infrastructure investor said.

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Asia “seems to be less affected by stagflation,” one of the “dominant thematics” globally, Ben Way, the group head of Macquarie Asset Management, said in an interview on Bloomberg Television, referring to stalling economic growth coupled with accelerating inflation. Indonesia , Korea and China among others are looking robust at a time the global need for new energy sources is booming, he said.

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“One of the few silver linings of the last 12 months has been the notion that clearly we need new sources of energy in every country from a diversification and security point of view and the best way to do that is to build and build and build, ” he said.

New cash inflows to the infrastructure investing space are on track to grow by more than $2 trillion over the next five years, Way said. The Asia-Pacific region’s economic resiliency, particularly compared to emerging markets, marks it as a prime destination for that growing pool, he said.

“What we’re seeing across the region is good government policy and more mature frameworks to invest in,” Way said.