Shawton Energy

EvoInfra is delighted to have supported Iona Capital, the UK low carbon sustainable fund manager, on the sale of its interest in Shawton Energy to Lazard Asset Management. Shawton Energy (“Shawton”) is a leading developer and owner of rooftop solar PV projects for commercial and industrial clients across the UK.

Shawton will introduce Lazard Asset Management into the existing operational projects of the company, while continuing its work with Iona Capital to deploy more than £65million of capital in an established pipeline of projects across the UK over the next five years. The partnership will help to accelerate the growth of the UK rooftop solar PV market, providing business owners with fully funded solutions to achieve long-term reductions in electricity costs and carbon footprints, whilst increasing energy resiliency.

Iona Capital invested in Shawton Energy in 2021 and since then the company has grown significantly with a material order book for large solar projects under long-term PPAs.

Jack Lowe, Project Lead at EvoInfra: “Congratulations to all involved. This transaction demonstrates the strong outlook for growth of rooftop solar in the UK, as well as the increasing attractiveness of investment in distributed generation platforms and assets which support the energy transition and decarbonisation of SMEs.

The transaction also represents yet another significant milestone for EvoInfra’s growing energy transition advisory practice, and in particular, our expertise in supporting infrastructure businesses in accelerating the energy transition and shifting from contracting to full-scale ‘own and operate’ platforms.”

Nick Ross, Director of Iona Capital: “The partnership with Shawton Energy over the past two years has been a rewarding one for Iona Capital generating positive returns for our clients. Rooftop solar remains an attractive sector for institutional investors particularly in meeting carbon reduction targets.”