Island Green Power (IGP), a developer of renewable energy projects, has announced the successful acquisition of GBP 150 million (USD 194.7 million/EUR 180.2 million) in financing to support its development and operational costs across its UK portfolio.
The funding is being provided by Goldman Sachs Group Inc , with Akereos serving as the debt advisor.
The financing structure includes an initial committed tranche of GBP 100 million, along with an additional GBP 50 million accordion facility designed to accelerate IGP's growth.
IGP has successfully delivered more than 34 solar projects globally, totaling over 1 GW of power generation capacity. The ownership of the company is jointly held by its founders and Macquarie Asset Management.
Recently, IGP initiated public consultations for its proposed 500-MW East Pye Solar project located near Long Stratton in South Norfolk, England.
Additionally, the company has secured consent for the 600-MW Cottam Solar Project, which is currently being recognized as the UK's largest solar farm.
