Latest news with #MacquarieGroup
Mint
3 days ago
- Business
- Mint
India's green infra surge could spark export wave, says Macquarie's Dooley
India's rapidly expanding green energy infrastructure—particularly in renewable power, battery storage, and electric mobility—has the potential to be exported as globalcompanies look for alternatives, according to Mark Dooley, global head of Macquarie Asset Management Green Investments, Macquarie Group. Indian firms could, thus, be supplying next-generation green technologies to international markets grappling with inflation and supply chain pressures, he said. 'One thing that was already clear to me is the potential of the industrial capability here to be outbound," Dooley said in an interview with the Mint. 'There is a huge investment agenda happening domestically. And you've got the industrial capacity to deliver that. That same capacity can become exportable." Macquarie would like to own buses on long-dated leases, wind farms, solar farms, utility-scale storage, charging assets, Dooley said. However, these assets are typically early-stage in India compared to more mature global markets, though the potential for growth is tremendous, he said. 'In the next two to three years, we'll see wild growth," Dooley said. 'And the industrial players we're speaking to are not just excited about the Indian market—they're thinking about exports too." 'You deploy at scale here—electric vehicles, charging units, battery storage—then you've got thousands of charging units, with real-world performance data," Dooley said. 'You can say: 'Look! This works. And we can do it at this price.' Why wouldn't Australia want it? Or Southeast Asia? Or Europe?," he added. India's aims to achieve 500 gigawatt of non-fossil-based energy capacity by 2030, covering renewables like solar, wind, biomass, and small hydro power, alongside nuclear and large hydro power. The country currently has a total non-fossil capacity of 242.8GW, half of the total installed power capacity of 484.8GW, the Union ministry of new and renewable energy said on 14 July. A green transition According to Dooley, there's a global hunger for well-priced, scalable supply of green energy. 'Inflation has made deployment more expensive. But if Indian industry can bring scale and efficiency to bear, it could reinvigorate the global supply chain—especially for emerging asset classes," he said. Over the past 15 years, Macquarie has invested about $4.2 billion of equity in India. Of this, around $1.1 billion is in green investments such as in Vibrant Energy and Blue Leaf, said Abhishek Poddar, India country head at Macquarie Group. 'Separately, we have stated that we intend to double down on our EV financing platform, Vertelo, where we intend to deploy over $1.5 billion over 10 years," Poddar added. Several other global infrastructure funds have also ramped up their green energy exposure in India. Brookfield Asset Management, KKR, Actis, and Global Infrastructure Partners have deployed capital in renewable power projects, including solar parks, wind farms, and emerging battery storage ventures. Last year, Brookfield, for instance, invested over $200 million in Tamil Nadu-based renewable energy company Leap Green Energy, with an option to infuse $350 million more in the future. Meanwhile, globally, Macquarie has been focussed on energy transition, moving from established assets in wind and solar into next generation technologies such as big-scale battery storage, sustainable aviation fuel, mobility solutions, carbon capture, biomethane, hydrogen and other segments. 'Vertelo is supported by that strategy," Dooley said.
Reuters
3 days ago
- Business
- Reuters
Australia's Macquarie Asset Management raises $4.1 billion for European infrastructure debt fund
July 17 (Reuters) - The asset management arm of the Macquarie Group ( opens new tab said on Thursday that it has raised 3.5 billion euros ($4.06 billion) for its European infrastructure debt fund. ($1 = 0.8630 euros)
The Age
5 days ago
- Business
- The Age
‘Patient, deliberate, calibrated': Albanese walks trade-security tightrope in China
Shanghai: Prime Minister Anthony Albanese will use a meeting with China's Premier Li Qiang on Tuesday to spruik the benefits of Australia's stabilised relationship with its largest trading partner after vowing not to back down on security issues, including taking back the Port of Darwin. Speaking after a green steel roundtable on Monday, designed to bolster Australia's crucial $100 billion iron ore exports to China, mining magnate Andrew 'Twiggy' Forrest warned that an overemphasis on security risks was hurting trade. The prime minister used his remarks after the roundtable, which included industry leaders from both nations, to paint Australia as a stable, open trading nation against the backdrop of US President Donald Trump's stop-start trade wars. 'I think that Australia's support for free and fair trade does provide potential opportunities for Australia in this region as well, not just with China, but with ASEAN nations,' Albanese said. Trade will be central to Albanese's talks with Chinese President Xi Jinping and premier Li – who famously referred to Albanese as a 'handsome boy' in 2023 – on Tuesday. For the first time in almost a decade, Albanese and a delegation of business leaders, including Macquarie Group chief executive Shemara Wikramanayake and BHP Australia president Geraldine Slattery, will meet with Chinese counterparts in Beijing. Albanese will use the CEO meeting to talk up the removal of Chinese trade strikes on goods like coal, barley, wine and rock lobster that were imposed after the Morrison government criticised China's handling of COVID-19 and its assertive foreign policy. 'Of course [more open trade] has also benefited China,' Albanese will say, according to draft notes of his speech provided to this masthead.
Yahoo
09-07-2025
- Business
- Yahoo
Copper Market in Turmoil as Trump Touts 50% Tariff on US Imports
(Bloomberg) -- President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark. Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Denver City Hall Takes a Page From NASA Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On The plan, announced in an apparently off-the-cuff comment to reporters, marks the latest twist in a tumultuous period for industrial commodities, as the US leader aims to encourage more mining and smelting at home. He's already raised fees on steel and aluminum imports, while probes into flows of multiple other metals are in train. Since February, when Trump declared 'it's time for copper to come home' and aired the potential for levies, global traders have sent record volumes of the metal to the US to get ahead of implementation. A 50% tariff — which could be in place within weeks — signals an imminent end to that trade but injects new uncertainties, including on timing and potential exemptions for some large producers. Citigroup Inc. called it a watershed moment for copper, closing the window for significant shipments into the US market. 'The degree of impact will heavily depend on the details,' said Marcus Garvey, Macquarie Group's head of commodities strategy. 'Not only the rate of any tariff but which forms of copper it is applied to, and whether or not there is any grace period ahead of its implementation.' If the tariff takes hold, it will inflict higher costs across a broad section of the US economy due to the myriad of industries and applications that rely on copper — even as Trump piles pressure on the Federal Reserve to lower interest rates. US buyers have already warned that the measure risks undermining Trump's core ambitions to revive manufacturing and challenge China's industrial might. 'The US does not have nearly enough mine/smelter/refinery capacity to be self-sufficient in copper,' Jefferies LLC analysts including Christopher LaFemina wrote in a note. 'As a result, import tariffs are likely to lead to continued significant price premiums in the US relative to other regions.' Contracts on the Comex surged to an unprecedented 25% premium over London Metal Exchange prices — the global benchmark — in the aftermath of Trump's comments, a level that also suggests the market is not convinced that a full 50% levy will be imposed on refined copper. Copper climbed as much as 17% in New York on Tuesday, a record one-day spike to an all-time high, before falling more than 4% in early trading on Wednesday. On the LME, the metal slid as much as 2.4% at the open, before easing to change hands at $9,653 a ton, 1.4% lower, at 1:08 p.m. in Singapore. 'The tariff increase is a bearish factor for LME copper prices in the near term,' said Yongcheng Zhao, principal analyst of the China copper market at Benchmark Mineral Intelligence. 'We expect continued volatility until the tariff officially kicks in, followed by the potential for a sharp decline.' Trump's 50% pledge comes as copper demand is expected to surge over the coming decade, with data centers, automakers, power companies and others scouring the globe for feedstock. Retooling power and transportation systems to run on renewable energy will require far more copper than the companies that produce it are currently committed to deliver. Significant Premiums The path toward greater US self-reliance in copper is a fraught one for the US given the paucity of existing capacity and the challenges in building new plants. Net copper imports account for 36% of demand, according to Morgan Stanley research. 'The longer term aim of the Trump administration may be for the US to be fully self-sufficient in copper, but mines take too long to develop for this to be achieved in less than a 10-year time horizon,' Jefferies analysts wrote. 'The US will still rely on foreign mines to meet demand for the foreseeable future.' Elaborating on Trump's copper comments, Commerce Secretary Howard Lutnick later said the levy would be in place in late July or by August 1. There were no details, including on which particular products would be hit by the tariff rate, or whether there could be exemptions for large producers like Chile. Many analysts and traders had been expecting tariffs at the relatively lower level of 25%, and the higher threshold means those carve-outs become more important. The massive flow of copper to the US this year also means the market there is relatively well-supplied for now. 'A 50% tariff is arguably comparatively bearish,' Macquarie's Garvey said. 'It would be more demand destructive at the margin in the US and extends the period of working down excess inventory.' The global copper industry has been bracing for the levies since February, when Trump ordered the Commerce Department to lay out the case for imposing them on national-security grounds as part of a review under Section 232 of the Trade Expansion Act. It had until later in the year to complete the investigation. --With assistance from Alfred Cang. Will Trade War Make South India the Next Manufacturing Hub? 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Bloomberg
09-07-2025
- Business
- Bloomberg
Macquarie Is Said to Weigh Sale of Singapore Petrochemical Asset
Macquarie Group Ltd. 's asset management arm is considering selling its 50% stake in a chemical storage terminal at Singapore's Jurong Island, according to people familiar with the matter. Macquarie Asset Management is working with a financial adviser on the potential disposal of the stake in Advario Singapore Chemical Pte, which may attract interest from infrastructure-focused funds and industry players, the people said, asking not to be identified because the deliberations are private. A stake sale could fetch several hundred million dollars, the people said.
