The refinancing deal, made in conjunction with Macquarie Infrastructure Debt Investment Solutions, includes a combination of RPI-linked and fixed-rate debt. The deal enables Low Carbon to continue its momentum in driving scale in the development of clean, renewable energy.

With a strong track record in funding and managing solar assets, Low Carbon has developed one of the largest portfolios of solar parks across the UK, with over 270MW funded and in operation today. The twelve solar parks refinanced in this deal were developed and constructed under the stewardship of Low Carbon and have been in operation for at least one year. Operated under the UK’s Feed-in Tariff (FiT) and Renewables Obligation (RO) subsidy regimes by Low Carbon, the solar parks generate a total of 99.2MW in renewable energy – enough to power approximately 29,800 homes and save more than 47,200 tonnes of CO₂ per year.

“This transaction ensures the alignment of long-term institutional funding to our operational assets capital structure, taking scale with flexible portfolio terms, and further capital to finance future projects into account," said Juan Martin Alfonso, chief financial officer, Low Carbon. "The deal will allow us to support our ambition to strengthen the UK’s supply of renewable energy.”