Australian investor Macquarie Asset Management has acquired an extra interest of 50% in Island Green Power, a developer in solar energy and battery storage established in the VK.
The transaction, via Macquarie’s Green Investments Fund, brings its interest in Island Green Power (IGP) to 100%. It invested for the first time in the company in 2022.
IGP was founded in 2013 and has developed more than 3 GW of Solar PV projects to the ready-made phase. It is also the company behind the 600 MW Cottam Solar Farm and 480 MW West Burton Solar Farm, both of which were agreed by the energy secretary in the past year.
IGP has more than 15 GW of Utility scale solar and battery energy storage system (BESS) projects in its British pipeline. As part of the founders of the Macquarie Acquisition IGP, the full ownership of the international activities of the company will retain.
Under Macquarie in the UK, IGP will switch from a pure development business to an independent power producer (IPP).
Macquarie’s stamp on the UK
The first British solar power plant that connects to the transmission network was developed the 50 MW Larks Green Solar PV site together with a 49.5 MW/99MW Bess, developed by Macquarie-supported Cero generation in collaboration with Enso Energy.
After the solar part of the project was connected to the transmission network in 2023, the Co-located Bess was confirmed in 2024, making the site the first of its kind connected in the UK.
The collaboration between Cero and Enso was initially written between Macquarie’s Green Investment Group and Enso, before the first Cero Generation launched.
In October 2024, the British government confirmed that Macquarie had committed an investment of £ 1.3 billion in the UK. This includes investments by its portfolio company RoadChef, an operator of the highway service area, to install 650 fast charging points of electric vehicles at the locations.
This Facilities will be partially powered by 9 MW of Solar Energy Capacity Onsite installed. The Macquarie investment package also includes 5GW new offshore wind capacity, including projects for the coasts of Orkney and Lincolnshire, as well as a direct investment in the IGP Stow Solar factory that was appointed in September 2024.
The green investment group of Macquarie was formed afterwards The UK Green Investment Bank in 2017A controversial step given that it had been a public green investor.
