Climate-focused investment firm Wollemi Energy Group, part of Wollemi Capital, has completed the acquisition of substantially all of the business of MPower, an Australian developer of renewable energy and battery storage systems, for A$19 million (~$12.5 million).
As part of the agreement, the ASX-listed MPower Group is divesting its renewable energy and battery storage operations. Wollemi has also committed to investing more than $100 million to advance MPower’s project pipeline, giving the company the financial strength to pursue its growth ambitions.
Completion of the transfer of certain assets remains subject to regulatory approvals, following which those assets will also move to Wollemi.
“With Wollemi’s support, we’re now positioned to accelerate the rollout of reliable clean energy assets and become a next-generation renewable energy producer,” said MPower CEO Nathan Wise.
Headquartered in Sydney, MPower delivers turn-key solar, battery, and microgrid projects for corporate and government clients across Australia. It will now form part of Wollemi’s growing portfolio of climate-infrastructure assets. To guide the company through its next phase of development, Wollemi Co-Founder and Co-CEO Paul Hunyor has been appointed Chairman of MPower.
Hunyor said: “MPower is a proven operator with a smart, executable strategy. It’s well placed to scale up capital deployment and become a major owner-operator of distributed energy. Whether behind the meter or connected to the grid, distributed energy infrastructure will play a big role in delivering cleaner, more resilient electricity for Australian energy consumers.”
Together, Wollemi and MPower will focus on expanding a pipeline of mid-scale solar and battery projects, supporting regional economic development and improving grid stability across the country.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, there were 50 solar M&A transactions in the first half of 2025, compared to 40 during the same period in 2024.
Recently, Solaris Assets, controlled by climate-focused investment management firm GoodFinch Management, acquired substantially all of the assets and business operations of residential solar company Sunnova Energy International. The transaction included Sunnova’s residential solar servicing, operations & management platform, as well as its solar generation and storage portfolio.
