Lisarb Energy expands into UK solar market with investment in Iguana Energy

Lisarb Energy, one of Brazil’s fastest growing solar developers, has taken a majority 32.8% shareholding in Iguana Energy, a new entrant in the UK solar market.

The investment by Lisarb Energy marks a first move in the company’s strategy to diversify into new markets outside of Brazil that offer significant growth potential. Lisarb expects to announce further strategic investments and joint venture partnerships in the coming months.

Iguana Energy focuses on originating, developing, designing and managing distributed solar assets, including commercial and industrial roof-mounted solar and ground-mounted projects. The company has established a pipeline of projects and power purchase agreement (PPA) off-takers.

“The imperative to reach net zero by 2050 will continue to drive the UK market for solar, and we’re excited to expand Lisarb’s reach by taking a majority shareholding in Iguana Energy,” said Jamie MacDonald-Murray, chairman Lisarb Energy. “From a demand side we see growing interest from corporates with UK operations looking to support their ESG strategies by securing long-term contracts to buy zero-emission energy through PPAs.”

Nick Koidl, Founder and Managing Director at Iguana Energy, said: “Lisarb’s backing puts us in a strong position to move forward with our pipeline of opportunities at what is becoming a pivotal moment for the UK’s drive for net zero as we approach COP-26 Climate Conference. Post-subsidy rooftop markets continue to thrive in the UK and we saw 14% year-on-year growth in the first quarter of 2021.