Macquarie reportedly looking to drop £10 billion into UK infrastructure

Australian bank Macquarie is reportedly in talks with downing street to invest £10 billion into UK energy and digital infrastructure projects.

According to a report on Sky News this was due to be announced during a state visit to Australia by the prime minister Boris Johnson, which had been tentatively scheduled for the middle of this month, which has been postponed due to the current heat in downing street, but is expected to be rearranged.

As well as renewable energy investments, the huge bag of cash is apparently earmarked for communications infrastructure, which could mean anything from 5G masts to broadband cables.

“The UK is one of the best places in the world to invest in, and from,” the firm told Sky News. “It’s our hub for operations across Europe, the Middle East and Africa and we’ve been proud to invest over £50bn in critical UK infrastructure in recent years. Over the next few years, we’ll progress important new investments in communities from Southampton to Orkney, in vital new infrastructure from offshore wind to ultra-fast broadband.”

While this hasn’t officially been announced, its certainly fair to say Macquarie has form when it comes to ploughing large sums of cash on infrastructure projects, and other telecoms-y investment besides. It invested £30 million and last year became the majority shareholder in UK alternative broadband provider Voneus, and in the same year Australian fibre firm Vocus agreed to its $4.6 billion (Australian) acquisition bid, made alongside retirement fund Aware Super.