British Solar Renewables (BSR) has secured a £345 million debt facility to support the development and operation of a 609-megawatt (MW) portfolio of solar and co-located battery energy storage projects across the UK, the company said on Wednesday.
The financing package, provided by a consortium of lenders including Lloyds Bank, Commonwealth Bank, Landesbank Baden-Württemberg (LBBW), and NatWest, covers 12 greenfield and operational assets. Lloyds acted as the sole structuring bank for the deal.
The portfolio is expected to produce 600 gigawatt hours (GWh) of electricity annually, enough to power approximately 160,000 homes and reduce carbon dioxide emissions by an estimated 140,000 tonnes per year, according to BSR.
“This financing highlights the strength of our collocation strategy and our innovative approach to delivering clean, reliable power at scale,” said Michael Ozersky, chief investment officer at BSR.
The transaction is one of the largest hybrid renewable energy financings in the UK to date and includes the refinancing of BSR’s existing senior debt facility. The company, which has been backed by global asset manager ICG since 2022, said the deal will support its ambition to become a leading integrated power producer in the UK market.
“This financing not only underscores the strength and credibility of BSR… but also highlights our shared commitment to delivering high-impact projects,” said Paul Levêque, associate director at ICG Infrastructure.
The projects are expected to contribute to the UK’s net zero emissions targets and broader energy transition goals.
Tony Hable, managing director at Lloyds Bank, described the financing as “a powerful validation of BSR’s ability to deliver at scale.
