MCQEF - Siemens Macquarie form U.S. distributed energy JV

Units of Siemens ([[SIEGY]] +1.4%) and Macquarie Group (MCQEF) say they are creating a joint venture to invest in the emerging energy-as-a-service sector in the U.S.Set up by Macquarie's Green Investment Group, and Siemens' Smart Infrastructure and Financial Services units, the companies say their Calibrant Energy JV will build energy infrastructure at no up-front cost and then manage it for customers including companies, municipalities and hospitals.Calibrant will seek to utilize Macquarie's capital and Siemens' technology as it competes to grow in the distributed energy space, an area the Wood Mackenzie consultancy says could attract $110B of investment during 2020-25.Other investment firms also are looking to tap into distributed energy: Blackstone has launched a platform, while Carlyle and BlackRock have such JVs with Schneider Electric and General Electric, respectively.

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Siemens, Macquarie form U.S. distributed energy JV