UK solar energy giant Lightsource Renewable Energy has completed £284m refinancing for nationwide solar projects totalling 101MW, which are all owned by the company.

The portfolio comprises 33 operational, ground-mounted solar projects, which fall under 20-25 year fixed income tariffs under the UK government’s Feed in Tariff subsidy regime.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

This transaction represents the first step into the long-dated institutional market by the firm, which has secured over £1.1bn of project finance debt this year.

M&G Investments Infrastructure Finance head John Mayhew said: "Consolidation within the solar sector is providing investable opportunities for institutional clients.

"This transaction represents the first step into the long-dated institutional market by the firm, which has secured over £1.1bn of project finance debt this year."

"We have structured the deal to deliver inflation-linked returns, with good security to ensure risks are appropriately rewarded.

"The injection of a quarter of a billion pounds of long-term institutional financing will enable Lightsource to grow and develop further sites across the UK.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"The latest deal brings M&G’s debt investment into the sector to more than £385m in the past 12 months, providing power for the equivalent of almost 90,000 average-sized homes."

M&G Investments had offered £247m of the total funds through a 22-year inflation linked finance arrangement.

The remaining £37m has been secured from AMP Capital through an eight-year mezzanine facility.

In August 2015, Lightsource Renewable Energy had announced about offering investment boost to promote solar power generation in Ireland.