London, 02 May 2025 – Macquarie Asset Management has acquired full control of UK-based renewables developer Island Green Power, marking a significant step in its clean energy investment strategy. The firm, which first acquired a 50% stake in Island Green Power in 2022, announced today that it has now purchased the remaining shares, cementing its full ownership of the company’s UK operations.

Island Green Power, founded in 2013, has established itself as a major player in the UK’s solar and battery storage sector, having successfully advanced over 3 GW of solar projects to the ready-to-build stage. With this new ownership structure, the company is set to transition from a pure-play developer to a full-fledged independent power producer (IPP), focusing on building, owning, and operating renewable energy assets across the UK.

Macquarie highlighted the strategic importance of the move, aligning with broader efforts to scale up clean energy infrastructure. “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 firsthand Island Green Power’s strong development capabilities. This will serve as a solid foundation as it transitions into becoming an Independent Power Producer. We believe IGP is well positioned to support the UK achieving its decarbonisation targets.”

Island Green Power’s development pipeline includes over 15 GW of utility-scale solar and battery energy storage system (BESS) projects. The company has recently secured planning consent for two of the largest solar farms in the country: the 600 MW Cottam Solar Farm and the 480 MW West Burton Solar Farm, both set to play a crucial role in bolstering the UK's renewable energy capacity.

Ian Lawrie, Founder of Island Green Power, commented: “We are incredibly proud of what the Island Green Power team has achieved in building one of the UK’s leading renewable energy platforms. As the business enters its next phase with Macquarie, I have every confidence in the team’s continued success.”

The acquisition excludes Island Green Power’s international operations, which will remain under the ownership of the company’s founders.

The announcement comes as the UK government works toward its goal of decarbonising the electricity system by 2030. Island Green Power is expected to contribute to the Clean Power 2030 Action Plan, which sets a target of an additional 45–47 GW of solar power capacity by the end of the decade.

Macquarie has invested or arranged more than £60 billion in UK infrastructure over the past 20 years and is supporting an additional £20 billion of investment across its portfolio, helping deliver improved energy, transport, utilities, social, and digital infrastructure across England, Wales and Scotland.