Iona Capital, the low carbon sustainable fund manager, has agreed a partnership with Shawton Energy to become a funded decarbonisation partner for industrial and commercial businesses. With a focus on new roof-top solar projects through a power purchase agreement, 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 £50m 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 is a renewable technology provider that has been active in the renewable industry for over 20 years. Drawing upon its extensive track record in building and construction, this complements the skills required to deliver high quality roof-top solar projects. 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.
Graham Mackenzie, Investment Director at Iona Capital said: “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. 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.”
By entering into a Power Purchase Agreement, businesses can expect to reduce their energy bills and lower their carbon emissions.
Jamie Shaw, Managing Director of Shawton Energy: “Iona Capital’s investment and our partnership with them gives us a strong platform to grow our business in a buoyant period for the renewable sector, in particular private wire connections. Together we can provide funding, turnkey installations and operations and maintenance which makes us a strong collaboration. We share a passion and a commitment with Iona to enable industry and commerce to fully realise the long-term benefits of renewable energy, and a commitment to build high-quality, well-maintained on-site generation systems for our customers.”
Graham Mackenzie, Iona Capital: 020 7064 3301 / [email protected]
Paul Taylor, Taylor Keogh Communications: 020 8392 8250 / [email protected]
Jamie Shaw, Shawton Energy: 01925 220338
About Iona (www.ionacapital.co.uk / twitter: iona_capital)
Iona is a leading specialist investment manager with a focus on investing in long term projects in the renewable and low carbon energy infrastructure sectors. Iona manages four funds and has invested in 24 projects to date. Headquartered in London, Iona has an experienced team of renewable energy, waste industry and private equity specialists.
About Shawton Energy (www.shawtonenergy.co.uk)
Shawton Energy is a turnkey developer, EPC & O&M provider within the renewable industry. We can provide a hybrid of technical support and delivery. With vast experience within the sector, we provide a holistic approach in pioneering your decarbonisation journey.