Verisk Analytics, owner of Edinburgh-based energy, metals and mining consultancy Wood Mackenzie has acquired MAKE, a research and advisory business specializing in wind power.

New Jersey-based Verisk said MAKE would become part of Wood Mackenzie.

Verisk bought Wood Mackenzie for £1.85 billion in 2015.

“The combined organization will enhance the offering to existing clients and form the leading market analysis and advisory firm on renewables and the transformation of the global electricity industry,” said Verisk.

“With detailed coverage of power market fundamentals, solar, wind, energy storage, and grid edge technologies, Wood Mackenzie will be ideally positioned to bring clients market-leading analysis and insight on the evolution of the entire energy landscape and will provide a strong platform for the future …

“MAKE’s cutting-edge knowledge of wind supply chains, costs, and investment trends will strengthen Wood Mackenzie’s offerings in the market during this rapidly changing time in the energy sector.”

Following the acquisition of Greentech Media in July 2016, Wood Mackenzie is continuing to expand its capabilities in data and insight for the power and renewables sector.

“Decarbonization is the defining trend in the energy industry today,” said Wood Mackenzie president Neal Anderson.

“And Wood Mackenzie is building a preeminent position to offer our clients the latest thinking in the renewables sector.

“MAKE’s expertise in wind and solar power complements both Greentech Media’s expertise and our own existing practice.”

Morten Keller, managing partner of MAKE, said: “I look forward to all of our clients benefiting from the combined offering.

“The renewables sector continues to grow at an unprecedented pace and at a scale that impacts the entire energy landscape.

“In 2016, more than $200 billion was invested to build a record 116 gigawatts of solar and wind capacity.

“This accounted for 41% of all new electricity capacity globally, more than any other source.”