Iona Capital sells interest in Shawton Energy to Lazard
Transactions - SEPTEMBER 21, 2023

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Iona Capital sells interest in Shawton Energy to Lazard

by Kali Persall

Low-carbon sustainable fund manager Iona Capital has sold its interest in Shawton Energy, a U.K. developer of rooftop solar PV projects for commercial and industrial clients, to a fund sponsored by Lazard Asset Management.

Shawton Energy helps businesses achieve long-term reductions to their electricity costs and carbon footprint through fully funded solutions, including solar PV, solar PV carports, battery-energy storage systems and electric vehicle charging.

In October 2021, Iona Capital formed a partnership with Shawton Energy to become a funded decarbonization partner for commercial and industrial businesses. With a focus on new rooftop solar projects through a power-purchase agreement, the joint venture had a goal to deliver more than £50 million ($61 million) of invested capital in high-quality solar projects throughout the following five years.

“The partnership with Shawton Energy over the past two years has been a rewarding one for Iona Capital, gener

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