Enviromena has signed an £825 million senior portfolio financing package to support delivery of a 1GW solar pipeline across the UK.
An initial £525 million has been committed by a syndicate including BBVA, Intesa Sanpaolo (IMI CIB), Lloyds, NatWest and Societe Generale, Enviromena said.
The company added that the financing is structured with a £300 million uncommitted accordion to expand alongside the portfolio as projects progress.
“This is a landmark transaction for our business and demonstrates strong momentum in our growth strategy. With this support, we are accelerating the transition from development to delivery, building a gigawatt-scale solar platform to supply homes, businesses, and support the UK’s energy transition,” said Chris Marsh, chief executive of Enviromena.
“Importantly, this investment contributes directly to the UK’s net zero goals and the urgent need to scale low-carbon energy solutions.”
“We’ve been supporting Enviromena since 2017, a period in which the business has evolved into a national leader in renewable energy,” said Romain Py, partner at Arjun Infrastructure Partners.
“This new financing package will enable the firm to continue its impressive growth trajectory.”
Perella Weinberg acted as exclusive financial advisor to Enviromena.
Travers Smith acted as Borrower Counsel and Eversheds Sutherland as Lender Counsel.