Low Carbon, a renewable energy investor and asset manager headquartered in London, revealed its successful fundraising of £310M (equivalent to approximately €356M) for the development of its solar photovoltaic (PV) construction facility.
The funding is the result of collaborations with esteemed international banks, including ABN AMRO, ING, the Commonwealth Bank of Australia, and Intesa Sanpaolo (IMI CIB Division).
Following this recent injection of capital, Low Carbon’s cumulative debt financing has reached an impressive total of £540M.
Fund Usage
The UK-based firm affirms that the newly secured funding will empower its endeavors to significantly enhance its core capacity by spearheading the development of 448MW of solar PV projects in the United Kingdom and the Netherlands.
When coupled with the previously announced finance facility from last year, this supplementary funding elevates the company’s total solar PV pipeline, currently under construction in the UK and Europe, to an estimated 1GW.
The company asserts that this expansion will deliver a substantial renewable energy capacity, sufficient to supply around 350,000 households with clean power and prevent the emission of 300,000 tonnes of CO2e.
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With the participation of ABN AMRO, ING, the Commonwealth Bank of Australia, and Intesa Sanpaolo (IMI CIB Division), the capital commitments now join NatWest, Lloyds Bank, and AIB in the existing facility, fortifying the company’s ability to realize its ambitious project pipeline.
Roy Bedlow, the founder and Chief Executive of Low Carbon, expresses his delight as four prominent international banks join forces to expedite the deployment of renewable energy infrastructure on a large scale.
“The United Kingdom and the Netherlands hold paramount importance as investment markets for Low Carbon. The installation of nearly 1GW of solar PV capacity will substantially contribute to achieving our strategic objective of establishing 20GW of new renewable energy capacity by 2030,” explains Bedlow.
Constructing a Net-Zero Energy Enterprise
Founded by Roy Bedlow, Low Carbon is dedicated to constructing a net-zero energy company that safeguards the planet for future generations. The company actively invests in, develops, and operates solar, wind, energy storage, and energy from waste projects across the United Kingdom, Europe, and North America.
With its certification as a B-Corporation and recognition as the gold standard for environmental impact, Low Carbon maintains a strong commitment to sustainability.
This announcement coincides with Low Carbon’s ambitious mission to establish 20GW of new renewable energy capacity by 2030, aiming to play a leading role in expediting the global energy transition.
Fernando Dominguez de Posada, Head of Financing at Low Carbon, expresses his delight in welcoming ABN AMRO, ING, the Commonwealth Bank of Australia, and Intesa Sanpaolo to the Low Carbon family. He emphasizes that this milestone closing underscores Low Carbon’s capacity to secure flexible and efficient structured funding products at a substantial scale, a crucial skill for successfully deploying their ambitious project pipeline.
