• Strategic Acquisition: Macquarie Asset Management (MAM) acquires full control of Galehead Development, integrating it with Treaty Oak Clean Energy to boost clean energy capabilities.
• Market Expansion: Treaty Oak gains access to Galehead’s pipeline of solar, wind, and storage projects, extending its reach into new U.S. markets.
• New Ventures: Galehead founders launch ETX Upstream to pursue Energy Transition initiatives beyond renewables.

Macquarie’s Clean Energy Play:

Macquarie Asset Management (MAM) is making a bold move in the U.S. clean energy market by acquiring the remaining controlling interests in Galehead Development through funds managed by MAM. The acquisition transforms Galehead into a wholly owned subsidiary of Treaty Oak Clean Energy, a leading independent power producer also owned by MAM.

Strategic Growth:

The integration allows Treaty Oak to leverage Galehead’s robust pipeline of high-quality solar, wind, and storage development assets, while Galehead benefits from Treaty Oak’s operational strengths.

“We believe that US renewables continue to play a crucial role in today’s power demand-driven market,” said Peter Zhu, Managing Director of Macquarie Asset Management Green Investments. “This transaction provides MAM with enhanced access to an attractive pipeline, well-positioned to meet the growing energy needs of data centers and industrial load customers.”

Expanding Clean Energy Footprint:

Treaty Oak is on track to advance its portfolio, with construction already underway for its 100 MWAC Redfield solar project, originally developed by Galehead. Additionally, two more solar projects with a combined capacity of 385 MWAC are set to begin construction within the next year.

Chris Elrod, CEO of Treaty Oak, emphasized the synergy:
“We see a tremendous opportunity to create value by combining the strengths of two excellent organizations. I look forward to welcoming the Galehead team and am confident that together we can achieve greater scale and stronger performance.”

New Ventures: ETX Upstream:

Following the acquisition, Galehead founders will launch ETX Upstream (ETXU) to explore Energy Transition opportunities beyond renewables, leveraging the success of their proprietary LandCommand® Platform.

“The spin-out of ETX Upstream will allow us to replicate the proven success of the LandCommand® Platform in emergent Energy Transition verticals,” said Matt Marino, CEO of ETX Upstream. “We’re excited to tackle some of the biggest barriers and challenges to a timely and fully realized Energy Transition.”

What’s Next:

The transaction is subject to closing conditions. If finalized, this strategic move positions MAM, Treaty Oak, and Galehead to capitalize on the growing demand for renewable energy solutions in the U.S. market, while ETXU forges a path in broader Energy Transition initiatives.

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