Macquarie is positioned as the frontrunner to acquire a stake of up to 50 per cent in EnergyAustralia, the third-largest electricity and gas supplier in Australia. 

This potential multibillion-dollar deal signifies a significant shift in the struggling sector, as EnergyAustralia's parent company, CLP Group, seeks partnerships to facilitate investments for the transition to low-carbon energy.

While Macquarie is in discussions to finalise the deal with CLP, other interested parties are still engaged in talks. 

If the agreement materialises, it would mark a substantial expansion of Macquarie's involvement in energy assets, particularly in the domestic market. 

Currently, Macquarie's participation is primarily limited to investments in battery storage and hydrogen ventures, as well as aspirations to establish a significant stake in Australia's emerging offshore wind sector.

As an asset management major investor, Macquarie holds gas pipelines in the United States, the United Kingdom, and Germany. 

The company has been progressively increasing its presence in renewable energy abroad, with stakes in businesses such as Island Green Power in the UK and Apex Energies Group in France. Macquarie aims to achieve net-zero emissions by 2040.

EnergyAustralia, headquartered in Melbourne, is the second-largest retailer of power and gas, trailing behind AGL Energy and Origin Energy. 

A spokesperson for EnergyAustralia declined to comment, as did representatives from Macquarie and CLP Group.

This potential deal aligns with the ongoing restructuring in Australia's electricity and gas sector. 

Origin Energy is currently the subject of an $18.4 billion takeover bid led by North American suitors, while AGL is recuperating after a failed demerger plan and a board overhaul prompted by tech billionaire Mike Cannon-Brookes. 

Alinta Energy, a medium-sized supplier, is also seeking new partnerships through its owner Chow Tai Fook Enterprises.

Despite EnergyAustralia's previous operating loss of approximately $1 billion due to challenging market conditions and regulatory changes, the company's outlook has improved. 

Both Origin Energy and AGL have upgraded profit guidance for their energy businesses, indicating a positive trend in plant operations and wholesale power prices.

CLP Group expressed its intention to seek partnerships for its Australian business in order to invest in low-carbon energy and optimise its capital structure. 

EnergyAustralia has already taken steps toward decarbonization, including securing a confidential agreement with the Victorian government to support its Yallourn generator and investing in gas/hydrogen power generation, pumped hydro, batteries, and wind farms.