Macquarie, through its Commodities and Global Markets group (Macquarie), has reached an agreement to acquire 100 per cent of Erova Energy Group (Erova).
Erova is a renewable asset optimisation company operating in Ireland and the UK with capabilities across Europe. It services a growing portfolio of wind, solar, waste-to-energy and battery storage assets with power purchase agreements (PPAs), market access, balancing services, as well as providing meter registration services. More recently, Erova expanded into renewable energy supply for industrial and commercial customers in Ireland through Erova Energy Supply.
Renewable energy producers rely on companies like Erova to manage price risk, enhance operational efficiency and meet grid requirements. As the world's renewable energy capacity continues to grow, there is increasing demand for these services to facilitate the energy transition.
After a decade of sustained growth in Ireland and the UK, Erova has significant potential to scale its platform in existing markets and internationally with the support of Macquarie's investment and extensive experience in global energy markets.
Rishil Patel, Senior Managing Director at Macquarie, said: "Erova is uniquely positioned in its ability to offer four key services to clients including PPAs, route to market, balancing services, and energy supply logistics. This is a strategic acquisition for Macquarie that will help unlock barriers to Erova's growth."
Nick Williams, Co-CEO at Erova said: "Given the UK and Irish Governments' ambitions to have substantially all energy generation from clean power by 2030, we believe demand for innovative renewable asset trading services will continue to grow. Bringing together Erova's existing platform, and our highly skilled and experienced team, and combining it with Macquarie's balance sheet strength, access to capital and market-leading access to power trading liquidity1 presents a highly attractive proposal for both our existing and new renewable asset owners."
Following Macquarie's acquisition, Erova will continue to operate from offices in Dublin and London. Macquarie has been investing in Ireland's energy, transport and social infrastructure sectors for more than two decades. In the UK, Macquarie has been investing in essential energy, transport, utilities and telecommunications infrastructure since 1989, and is one of the most active investors in its offshore wind sector.
Erova is currently partly owned by its four founders, who will remain part of the senior management team, and by Mitsui & Co., Ltd.
The transaction is subject to closing conditions.
About Erova
Erova Energy Group is a leading renewable asset optimisation company operating in the UK and Ireland with capabilities across Europe. It services a growing portfolio of wind, solar, waste-to-energy and battery storage assets with power purchase agreements (PPAs), market access, balancing services, as well as providing meter registration services.
Erova's proprietary, state-of-the-art power trading platform operates 24/7/365, enabling seamless trading across the energy spectrum and the ability to deliver highly flexible, bespoke route-to-market agreements, which are tailored to the needs of generators, suppliers, and large energy users across the UK and Ireland.
As Erova continues to grow, the company remains committed to transparency, flexibility, and reliability - helping its partners navigate the evolving energy landscape with confidence.
To learn more, visit www.erovaenergy.com.
