Lisarb Energy buys 32.8% share in Iguana Energy

By Dominic Ellis
Lisarb Energy's investment in Iguana Energy signals plans to diversify into new markets outside Brazil

Brazilian solar developer Lisarb Energy has bought a 32.8% shareholding in Iguana Energy, the London-based clean energy investment firm.

The investment 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.

This year Brazilian energy prices have increased by over 50% and are expected to continue to rise considerably above inflation. Worldwide however, costs for solar power generation continue to fall.

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 the COP26 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.”

In 18 months, Lisarb has expanded its portfolio to over 3GW. It develops, constructs and manages distributed energy solar assets that benefit from triple A corporate PPAs, as well as utility-scale solar parks for the free market and government auctions.

It aims to balance profit with purpose by reinvesting a percentage of its profits into health and education initiatives that benefit the local communities nearest its solar schemes.

Iguana Energy is developing long duration energy solutions to enable a fully renewable, affordable and reliable electric system. They offer fully funded solar projects to commercial and industrial companies by entering into long term PPAs and offering their clients discounted energy.

  • Solar Americas Capital aims to bring upwards of 2GW of solar power in partnership with progressive corporations across Brazil by 2026. The company will co-fund, identify, build and manage the solar assets for commercial partners, drawing on over 25 years' experience working in the Brazilian, solar and finance markets.
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