Low Carbon partners with leading international banks on debt refinancing worth more than half a billion pounds

The debt raise is one of the largest of its kind in the European renewables market and forms part of the funding package that sees CVC DIF become the majority shareholder in Low Carbon to help drive the company’s growth in the UK, Germany, and Poland

Leading renewable energy company, Low Carbon, has continued the expansion of its capital structure raising more than half a billion pounds across Senior and Holdco facilities in partnership with ten major international banks.

A 10-year Senior facility will refinance an existing construction line underpinning Low Carbon’s 1 GW portfolio of solar and battery storage assets either in operation or under construction. The facility, structured as a platform financing, will allow the inclusion of new assets in the future as the company grows its renewables portfolio across Europe

The Senior facility will be complemented with an additional 5-year Holdco facility that Low Carbon will be able to use to fund its development activities as well as construction equity for future assets.

These facilities, underscore the confidence of global financial institutions in Low Carbon’s strategy and ambition to deliver a 3 GW portfolio of operational utility-scale solar, onshore wind and battery storage in the coming years.

The capital raise brings together longstanding partners Lloyds, NatWest, Intesa Sanpaolo (IMI CIB), and AIB, at the same time as it welcomes new institutions including Société Générale, HSBC, DNB, CIBC, Santander and SMBC. This reflects the shared commitment from leading banks to support the energy transition.

The announcement also underscores Low Carbon’s deep expertise in securing innovative, flexible financing solutions across the whole capital structure to support the deployment of large-scale renewable energy assets, while demonstrating the confidence from the global banking community in Low Carbon’s portfolio and strategy.

In December last year, Low Carbon secured a landmark investment from CVC DIF, the infrastructure strategy of leading global private markets manager CVC, to help drive the company’s long-term expansion and accelerate the energy transition in the UK, Germany, and Poland.

Commenting on the capital raise, Roy Bedlow, Chief Executive and Founder of Low Carbon, said:

“Long-term partnerships with investors and lenders are fundamental to Low Carbon’s continued growth. This landmark capital raise demonstrates the confidence that leading international banks have in our vision and ability to deliver large-scale renewable energy to the grid and ensures we are well positioned to accelerate the development of our renewables pipeline to help fight against climate change.”

Fernando Dominguez de Posada, Head of Financing at Low Carbon, added:

“This debt raise is a testament to Low Carbon’s ability to raise flexible and efficient capital utilising a wide range of senior and subordinated products. It is also a consequence of our strong partnership with the international debt markets and will allow us to continue supporting the energy transition.”

Victoria Whitehead, Managing Director, Head of Infrastructure and Transport at Lloyds, added:

“Lloyds has been a relationship bank for Low Carbon since its inception in 2011 and we’re proud to support it at this significant point in its growth strategy, with one of the largest debt raises in the European renewables market. Low Carbon’s renewables‑first strategy aligns directly with our ambition to support the transition to a low‑carbon economy, and we look forward to seeing more of its work accelerate clean energy deployment across the UK and Europe.”

Bruce Riley, Managing Director, Head of Project Finance at NatWest, added:

“We are pleased to continue our partnership with Low Carbon through this significant refinancing. The transaction reflects the strength of our long‑standing relationship and our shared commitment to supporting the delivery of large‑scale renewable energy infrastructure.”