Macquarie Group has acquired Renewable Energy Systems' Japanese unit, giving the Australian investment bank access to a pipeline of onshore wind developments in the world's third-largest economy. 

The unit, based in Tokyo, will be rebranded Acacia Renewables and will continue to receive some advisory and technical support service from RES, which is based in the UK.

"We are developing projects in the wind, solar, and waste and environmental services sectors in Asia, and this acquisition significantly strengthens our capabilities in Japan, and across the region," said Hajir Naghdy, the head of Macquarie Capital's business in Asia and the Middle East.

The deal, for which a price was not disclosed, comes about a month after Macquarie sealed its proposed £2.3bn acquisition of the UK's Green Investment Bank.

Image: RES