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.
As per the transaction, the founders 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.
