“A lot is obviously weather dependent,” he says. “Last year, everyone got away with it in terms of it being a very mild winter in the UK and Europe. But the system doesn’t last that long in terms of storage – I’m talking about gas storage in particular – so I think a lot of people are nervous about what the weather could do.”
Plewman was speaking to The Irish Times last week on one of his regular visits to Dublin from his adopted home, London, where Macquarie has its main base of European operations. Rather than a routine check-in with the Dublin office, the executive was in the capital to help celebrate the 20th anniversary of the bank’s initial entry into the Irish market.Over those two decades, Macquarie has built up a formidable portfolio of Irish assets.
Waste and renewables are the third pillar of the business here, having acquired Beauparc Utilities, the State’s largest waste company and parent to both Panda Waste and Greenstar, for a reported €1 billion in 2021. Macquarie is also developing 400 megawatts of offshore electricity generation at the Sceirde Rocks wind farm off the Connemara coast.For most its two decades in Ireland – 18 years, to be precise – Plewman has been part of the Macquarie team.
Plewman says the changes he has seen across the Irish economy and, indeed, society over the course of his 18-year career have been astonishing. “It’s been quite the journey,” he says. “I left Ireland in 1995-’96 and it was around the time the economy was starting to look like something might be changing. Prior to that, I grew up in an environment with challenging economic conditions. Clearly, there was a big push, right until the financial crisis, that changed things significantly.
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