Macquarie Asset Management (MAM) has acquired the remaining 50% stake in UK-based renewable energy company Island Green Power, bringing its ownership to 100% as the firm moves to scale up its presence in the UK solar market.
Founded in 2013, Island Green Power has developed more than 3 gigawatts (GW) of solar projects to ready-to-build stage. The company recently received planning consent for two of the UK’s largest solar farms—Cottam Solar Farm (600MWac) and West Burton Solar Farm (480MWac)—and has a pipeline of over 15GW of utility-scale solar and battery energy storage system (BESS) projects.
The deal will see Island Green Power’s founders retain full ownership of the firm’s international operations, while the UK arm will now focus on evolving from a project developer into an independent power producer (IPP), tasked with building and operating its renewable assets.
“We are excited to increase our stake in Island Green Power, a leading UK solar developer,” said Eric Bjonerud, managing director at MAM Green Investments. “We have witnessed first-hand Island Green Power’s strong development capabilities… this will serve as a solid foundation for building a significant operating base over the coming years.”
Bjonerud added that the company is “well positioned to support the UK achieving its decarbonisation targets.”
The acquisition comes as the UK Government accelerates its push to fully decarbonise the electricity system by 2035. Solar energy is expected to play a central role in this transition, with the Clean Power 2030 Action Plan targeting an additional 45-47 GW of solar capacity by 2030.
Island Green Power founder Ian Lawrie welcomed the transition. “We’re incredibly proud of what the Island Green Power team has achieved in building one of the UK’s leading renewable energy platforms,” he said. “As the business enters its next phase with Macquarie, I have every confidence in the team’s continued success.”
Macquarie’s acquisition reflects broader investment trends in renewable energy infrastructure across Europe, where solar and storage technologies are seen as vital to meeting climate targets and improving energy security.
