Macquarie Asset Management, through its managed funds, has acquired an additional 50 per cent stake in Island Green Power. This brings its total ownership in the business to 100 per cent. Macquarie initially invested in Island Green Power in 2022.
Island Green Power is a UK-based renewable energy developer that is focused on utility-scale solar and battery energy storage system projects, and was founded in 2013. As per the recent transaction, the founders of Island Green Power will retain full ownership of the company’s international operations, while the UK entity will shift its strategy from being a pure-play developer to an independent power producer (IPP), with a focus on building and operating renewable energy assets.
Island Green Power has developed over 3 GW of solar projects to ready-to-build status. Recently, the company secured planning consent for two solar farms in UK: the 600 MW AC Cottam solar farm and the 480 MW AC West Burton solar farm. The company’s current pipeline in the UK includes more than 15 GW of utility scale solar and battery energy storage system (BESS) projects.
REGlobal’s Views: The UK is an important market for Macquarie where the company has already invested or arranged more than £60 billion in UK infrastructure over the past 20 years and another £20 billion of new investment planned in UK infrastructure. Specifically, in the clean infrastructure space, apart from solar and BESS through platforms like Island Green Power, the company is also investing in offshore wind and EV charging stations.
