Advertisement
Advertisement
Macquarie Asset Management buys stake in UK renewable energy developer
By:
LONDON (Reuters) - Macquarie Asset Management, part of Macquarie Group, said on Thursday it has agreed to buy a 50% stake in UK-based renewable energy developer Island Green Power for an undisclosed sum.
LONDON (Reuters) – Macquarie Asset Management, part of Macquarie Group, 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; Editing by Himani Sarkar)
About the Author
Reuterscontributor
Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:
Advertisement