(qlmbusinessnews.com via uk.reuters.com — Thur, 31st Mar 2022) London, UK —
Macquarie Asset Management, part of Macquarie Group (MQG.AX), said on Thursday it has agreed to buy a 50% stake in UK-based renewable energy developer Island Green Power for an undisclosed sum.
Island Green Power develops utility-scale solar plants and has projects in Britain and Spain, among other countries. It has developed more than 1 gigawatt (GW) of renewable energy projects and has a further 11 GW of capacity under development.
Macquarie Asset Management said it will invest in the firm alongside Island Green Power's current shareholders and senior management team.
The transaction is expected to be completed in the second quarter, subject to regulatory approval, it added.
Reporting by Nina Chestney
