Macquarie Asset Management, a global asset manager, via its managed funds, has acquired the remaining 50% stake in a U.K.-based renewable energy developer, Island Green Power.
Founded in 2013, Island Green Power specializes in utility-scale solar and battery energy storage projects, having developed more than 3 GW of solar projects to ready to build. Island Green Power is stated to have more than 15 GW of utility-scale solar and BESS projects in its pipeline in the U.K.
In 2022, Macquarie acquired the initial 50% stake in Island Green Power through Macquarie Green Investment Group Renewable Energy Fund 2. The two transactions increased the stake to 100. The founders of Island Green Power will retain full ownership of the company’s international business.
Through this acquisition, Island Green Power is expected to transition from its existing development business to becoming an independent power producer, concentrating on building and operating assets.
“We’re incredibly proud of what the Island Green Power team has achieved in building one of the U.K.’s leading renewable energy platforms. It’s been a privilege to work alongside such talented, committed individuals. As the business enters its next phase with Macquarie, I have every confidence in the team’s continued success and wish them all the very best for the future,” said Ian Lawrie, Founder of Island Green Power.
According to Mercom’s recently released Q1 2025 Solar Funding and M&A report, a total of 19 solar corporate M&A transactions were recorded in Q1 2025, compared to 20 transactions in Q4 2024, and 10% lower compared to 21 solar M&A transactions in Q1 2024.
In March, Wang & Lee Group (WLG), a sustainable technology solutions provider specializing in energy storage systems and smart infrastructure, announced its acquisition of SolarHK, a solar energy company, through an allotment of shares valued at approximately HK$15 million (~$1.9 million).
