Macquarie Asset Management is pleased to have successfully completed the acquisition of Island Green Power. This company is one of the UK’s largest renewable energy developers. This strategic acquisition brings Macquarie’s reach a big step forward into the renewable energy mainstream. Now, it has total control over the company, with ownership of 100% of the company’s shares. The acquisition aligns with Macquarie’s long-term commitment to sustainable energy and supports the UK government’s aggressive decarbonisation targets for its electricity system by 2030.
As recently as 2024, Macquarie retained financial advisers to seek out buyers for Corio Generation, a move which has now been called off. The firm has since fully pivoted to developing renewable energy assets. They are particularly committed to building the solar and offshore wind supply chains. Since its founding in 2013, Island Green Power has emerged as a leader in the renewable energy industry. The company has more than 3 gigawatts (GW) of solar projects under development that are build-ready, and it has a healthy project pipeline of 25 GW for offshore wind power.
The recent planning consent granted to Macquarie for two of the UK’s largest solar farms will play a crucial role in meeting the nation’s clean energy objectives. The UK is aiming to increase its solar capacity to 50GW by 2030. This public power initiative is the cornerstone of our Clean Power 2030 Action Plan. This ambitious initiative highlights the critical role that solar can—the must—play as we walk the path toward a durable low-carbon economy.
Macquarie’s acquisition must have been music to the ears of Eric Bjonerud, their chief American representative.
“We are excited to increase our stake in Island Green Power, a leading UK solar developer. We’d like to thank our departing co-shareholders who have supported the business this far.” – Eric Bjonerud
Island Green Power’s founder Ian Lawrie, a jubilant figure on his team’s success, boasted of the effort’s achievements. He has every reason to look ahead with confidence about their long-term success under Macquarie’s stewardship.
“We’re incredibly proud of what the Island Green Power team has achieved in building one of the UK’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.” – Ian Lawrie
Macquarie’s acquisition is poised to enhance its operational capabilities and strengthen its commitment to supporting the UK’s renewable energy goals. Island Green Power has already demonstrated remarkable development prowess. With the lights finally on, Macquarie now intends to further develop this foundation by securing a deep operating base for deeper transition into an Independent Power Producer.