Jason Willoughby
Platform led by former Squadron Energy CEO Jason Willoughby enters market with 46MW operating portfolio across 240 Australian sites
Australian businesses are leaving a strategic cost-control opportunity on the roof, with commercial and industrial solar uptake lagging household adoption despite businesses consuming more electricity.
Vertis Energy, owned by Igneo Infrastructure Partners, is launching to target that gap, helping commercial and industrial businesses take greater control of energy at their own sites.
Led by former Squadron Energy CEO Jason Willoughby, Vertis will build, own and operate onsite solar and battery systems for businesses, helping customers reduce exposure to energy volatility, improve long-term cost certainty and extract greater value from energy assets sitting on their own rooftops and behind the meter. It will also oversee Igneo’s existing distributed energy interests.
The platform is launching with an established operating base, following the execution of binding agreements to acquire 100 per cent of Green Squares Energy as part of an acquisition package, including two immediate follow-on acquisitions, totalling 46MW of operating distributed energy assets and a pipeline of growth opportunities. Completion is subject to regulatory approvals and is expected in Q3 2026.
Energy moves into the boardroom
The launch comes as energy costs, reliability and long-term price certainty move from facilities and procurement discussions into the boardroom.
Independent analysis from IEEFA shows Australia has installed around 22GW of residential solar, compared with only 5.6GW of commercial and industrial solar, despite businesses consuming more electricity than households. Forecasts point to commercial and industrial solar capacity growing to as much as 31GW by 2050.
Mr Willoughby said Vertis had been created for businesses ready to treat energy as a strategic lever for cost control, resilience and competitiveness.
“Energy is no longer just a line item for facilities teams or procurement departments. For many businesses, it is becoming a much more material driver of cost certainty, resilience and competitiveness,” Mr Willoughby said.
“Australian businesses have a major opportunity sitting at their own sites. The question is whether they continue to simply buy energy from the market, or use the assets they can control to create more certainty and value over the long term.
“There is significant value sitting closer to the customer – on business rooftops, behind the meter and in the energy assets companies can control directly. Vertis is built to help businesses capture that value.”
Acquisition-backed scale from day one
Green Squares Energy is an established distributed energy platform focused on the commercial and industrial behind-the-meter sector.
The acquisition covers 46MW of operating solar projects across 240 sites in Australia, including 34MW of behind-the-meter solar and 12MW of small utility-scale front-of-meter solar farms with co-located battery developments.
Mr Willoughby said the acquisition gave Vertis a strong operating base from day one.
“Vertis is entering the market with real assets, real customers and a clear role helping businesses capture more value from energy at their own sites,” he said.
Igneo backs Vertis to scale in distributed energy
Igneo, which manages A$34.5 billion in assets globally, said the launch of Vertis reflected its conviction in the long-term opportunity for distributed energy infrastructure, as commercial and industrial customers seek greater control over energy costs, reliability and performance.
In Australia, Igneo is already active in distributed generation and renewable sectors through its investment in CPE Renewable Investment Trust, which holds a portfolio of distributed solar and battery assets, as well as providing electricity, thermal and recycled water services at the Barangaroo, Central Park, Mascot and Tonsley precincts. In addition, Igneo’s investment in Atmos Renewables includes interests in more than 1.9GW of wind, solar and energy storage assets.
About Vertis Energy
Vertis Energy is an Igneo-backed distributed energy platform helping commercial and industrial businesses take greater control of energy at their own sites. Vertis designs, funds, operates and manages onsite solar and battery systems, with a focus on long-term performance, optimisation and lifecycle management. Subject to completion of its acquisition of Green Squares Energy, Vertis will own and operate a 46MW operating solar portfolio across 240 sites in Australia and provide management oversight for Igneo’s existing interests in Australian distributed energy assets.
For more information, visit https://vertisenergy.com.au
About Igneo Infrastructure Partners
Igneo Infrastructure Partners (Igneo) is an autonomous investment team within First Sentier Group. It invests in high-quality, mature, middle market infrastructure businesses across the energy, waste and water, transport and digital infrastructure sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.
Igneo manages A$35.8 billion worth of assets as at 31 March 2026 on behalf of more than 200 investors around the world.
For more information, visit igneoip.com
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