Macquarie Group, through its Commodities and Global Markets division, has agreed to acquire 100% of Erova Energy Group, a renewable asset optimisation firm operating primarily in the UK and Ireland. The terms of the deal were not disclosed, and the transaction remains subject to customary closing conditions.
Erova specialises in services such as power purchase agreements (PPAs), market access, balancing, and meter registration. It manages a portfolio of wind, solar, waste-to-energy, and battery storage assets and recently entered the renewable energy supply market for industrial and commercial clients in Ireland under the Erova Energy Supply brand.
With renewable energy capacity expanding globally, companies like Erova play an increasingly important role in managing price volatility, ensuring grid compliance, and maximising asset efficiency.
Macquarie stated that the acquisition is aligned with its long-term commitment to energy transition infrastructure. The company believes Erova’s platform has considerable potential for international expansion, supported by Macquarie’s capital and energy market expertise.
“Erova is uniquely positioned to offer a comprehensive suite of services to renewable asset owners,” said Rishil Patel, Senior Managing Director at Macquarie. “This acquisition will help address growth barriers and enable further scaling of Erova’s operations.”
Nick Williams, Co-CEO of Erova, noted that the acquisition comes at a time of accelerating demand for clean energy trading services. “With government targets in the UK and Ireland aiming for near-total clean energy generation by 2030, combining Erova’s platform and expertise with Macquarie’s resources and trading capabilities creates strong prospects for both existing and new clients,” he said.
Erova will continue to operate from its offices in Dublin and London following the completion of the transaction. The company’s founding partners, who currently hold a stake in the business, will remain part of the senior management team. Mitsui & Co., Ltd., another shareholder, is expected to exit as part of the acquisition.
Macquarie has been an active investor in energy and infrastructure sectors in both Ireland and the UK for over two decades, including significant involvement in the offshore wind industry.
