British Solar Renewables has secured GBP 345 million ($471 million) of financing for 12 solar projects, and three co-located battery assets. A company spokesperson told pv magazine the portfolio comprises 536 MW PV capacity across 12 sites and a total storage capacity of 73 MW/146 MWh from the three co-located BESS assets.
Securing financial close represents one of the largest hybrid portfolio finance deals in the UK renewable sector, according to British Solar Renewables. The developer also explained that one site included in the deal is located in Australia – a solar asset with circa 37 MW capacity.
Five of the 12 sites are currently operational, the developer confirmed, with the remainder either in construction or expected to be under construction by the end of 2025.
Financing was secured as a flexible debt facility, provided by a consortium of banking partners, including Lloyds Bank, NatWest, Commonwealth Bank of Australia and Landesbank Baden-Württemberg.
In a press release, Michael Ozersky, chief investment officer at British Solar Renewables, described the deal as a “landmark transaction” and a major milestone for the business.
“This financing highlights the strength of our [co-location] strategy and our innovative approach to delivering clean, reliable power at scale,” said Ozersky.
