Low Carbon has raised more than half a billion pounds in senior and holdco debt facilities with ten international banks.
The company said the refinancing forms part of a wider funding package that will see CVC DIF become the majority shareholder.
The 10-year senior facility will refinance an existing construction line supporting a 1GW portfolio of solar and battery storage assets, according to Low Carbon.
It added that the platform financing structure allows new assets to be added as the portfolio expands across Europe.
A further five-year holdco facility will fund development activities and construction equity for future projects.
Low Carbon said the facilities support its ambition to deliver a 3GW portfolio of operational utility-scale solar, onshore wind and battery storage assets.
The debt raise includes longstanding partners Lloyds, NatWest, Intesa Sanpaolo and AIB alongside new lenders including Société Générale, HSBC, DNB, CIBC, Santander and SMBC.
Roy Bedlow, chief executive of Low Carbon, said the refinancing demonstrates strong lender confidence.
“Long-term partnerships with investors and lenders are fundamental to Low Carbon’s continued growth,” said Bedlow.
“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,” he added.
Fernando Dominguez de Posada, head of financing at Low Carbon, said the transaction reflects strong debt market relationships.
“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,” he said.
“It is also a consequence of our strong partnership with the international debt markets and will allow us to continue supporting the energy transition,” Dominguez de Posada added.