Macquarie announces lease facility in fuel cell sector

• Significant lease facility will finance installation of Bloom Energy’s 1.4 MW microgrid
• Transaction marks Macquarie’s ability to finance vital power applications in energy transition, leveraging expertise in energy markets

Macquarie Group’s Specialized and Asset Finance division within the Commodities and Global Markets group (“Macquarie”) today announced the launch of an operating lease facility with Bloom Energy, a leading distributed electricity generation company that manufactures solid oxide fuel cells. The investment financed a behind-the-meter 1.4 megawatt (MW) fuel cell microgrid that is providing power generation to a US semiconductor components manufacturer in California.

As part of the transaction, Macquarie structured a sale and leaseback to Bloom Energy, funding the majority of the system cost for the customer and enabling Bloom Energy to provide reliable, resilient, sustainable, and cost competitive onsite electricity to the customer. The Bloom Energy microgrid enables this customer to dispatch independently from the grid, eliminating the need for diesel back-up generators, and protecting against grid outages and extreme weather disruption at their manufacturing facility.

“For fuel cell power systems, bespoke financing solutions are critical to effective client delivery, and we are pleased to be able to support innovative technology companies like Bloom Energy,” said Ben Glover, Executive Director in Macquarie’s Specialized & Asset Finance division. “Bloom Energy’s fuel cells provide customers with low carbon and cost predictable onsite electricity generation. With the ability to utilize natural gas, biomethane or hydrogen as intake fuels, Bloom Energy’s technology provides flexibility across fuels of different carbon intensity, while also minimizing other air pollutants. These systems can provide a transition pathway for customers seeking to reduce their carbon emissions."

Macquarie’s Specialized and Asset Finance division provides structured finance and asset management solutions to help clients across a diverse range of energy-intensive industries. With deep industry expertise in established and emerging technology, SAF aims to help clients operate more efficiently, while meeting their environmental and sustainability goals.