The partnership will assist a multitude of industries meet their carbon reduction targets. The joint venture between Iona Capital and Shawton Energy aims to deliver more than £50 million of invested capital, in high-quality solar projects over the next five years.
Drawing on its project development and investment experience in other parts of the renewable energy sector, in particular anaerobic digestion, energy from waste, biomass and energy efficiency schemes, it is Iona Capital’s second strategic move within the UK solar PV market. Last week (19th October), Iona announced a partnership with IGas to develop utility scale ground-mounted solar farms in the UK, with a first project in the south of England.
Shawton has been active in the renewables industry for over 20 years. Over the past two years, the company has developed a significant number of solar, battery and renewable energy projects and has a firm pipeline of projects ready for capital deployment.
“Our JV with Shawton Energy provides landlords and owner-occupiers with the necessary financial, project development and construction expertise to take control of their energy strategy” said Graham Mackenzie, Investment Director at Iona Capital. “At a time of rising energy costs, and the growing pressure to cut CO2 emissions, roof-top solar is a ready-made solution. Roof-top solar is a part of the renewables market that - as the pressure on industry to deliver Net Zero builds - we expect to grow quickly over the coming years.”
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