Ex-Thames Water owner Macquarie has unveiled plans to pump billions of pounds into its UK infrastructure portfolio, spanning gas and water networks.
A pledge for some £20 billion of investment was reiterated on the sidelines of London’s International Investment Summit on Monday, including support for the UK’s first reservoir in 30 years in the southeast.
A plan to roll out 650 electric vehicle charging points across Macquarie-owned Roadchef motorway service stations was also announced, alongside investment for offshore wind, battery storage, gas transmission and broadband projects.
“We believe that infrastructure investment helps create strong foundations for economic growth, job creation [and] better services,” chief executive Shemara Wikramanayake said.
“We are fully invested in the UK’s success and look forward to playing our part in delivering the investment the country needs.”
Macquarie, which is headquartered in Sydney, Australia, owned Thames Water between 2006 and 2017.
The company has faced heavy criticism over its ownership of Britain’s largest water company, which is on the brink of nationalisation due to a growing debt pile.
Thames’ debt grew from £6 billion to £11 billion under Macquarie’s control, while some £879 million worth of dividends were paid out.
Macquarie has previously stressed that 2.5 times more was invested in the water company under its ownership than when was in public hands.
The firm added on Monday that it had supported £60 billion worth of investment in UK infrastructure since expanding beyond Australia in 1989.