British Solar Renewables (BSR) has raised up to £130 million in mezzanine funding from Eiffel Investment Group, a French asset manager, to support the next phase of growth of its integrated solar and storage platform.
The facility, which is structured on a single lender basis, is secured by approximately 700 MW of highly contracted solar PV and co-located solar plus storage assets in the UK and Australia.
It provides flexible capital to meet BSR’s investment needs throughout the project lifecycle as the company expands its pipeline beyond its existing portfolio. BSR was advised by Akereos Capital as exclusive financial advisor and Bracewell as legal advisor. Eiffel was advised by TLT.
The increase follows that of BSR £345 million senior debt facility completed in 2025which covered a 609 MW portfolio of 12 solar and co-located solar BESS projects.
The facility, provided by a consortium including Lloyds Bank, NatWest, Commonwealth Bank of Australia and Landesbank Baden-Württemberg, was described as one of the largest hybrid portfolio financings ever completed in the UK renewable energy sector.
The mezzanine facility announced today sits on top of that structure and adds a layer of subordinated debt to give BSR additional headroom as the business scales.
BSR chief executive Tim Humpage said the deal builds directly on last year’s transaction.
“This financing marks a significant milestone for BSR, building on the £345 million project financing completed in 2025. As we continue to scale across the UK and Australia, Eiffel’s mezzanine facility provides the flexible capital we need to advance our pipeline and invest across the platform,” said Humpage.
“We are pleased to be working with Eiffel, whose experience in the energy transition and confidence in our company make them a strong partner for this next phase of growth,” said Humpage.
Jean-Charles Arrago, director of the Eiffel Investment Group, pointed to the UK policy environment as a key factor in the decision to participate.
“BSR has built an impressive platform of highly contracted renewable energy assets thanks to a highly talented and experienced team, which we are very keen to support. Providing flexible capital to scalable platforms like BSR contributes to strengthening European sovereignty through decarbonization,” said Arrago.
A platform built on co-location and biodiversity
Founded in 2010 and headquartered in Shepton Mallet, BSR has been supported by ICG Infrastructure since July 2022 and operates a fully integrated model spanning development, construction and operations.
The company is developing a joint pipeline of almost 18 GW across Britain and Australia, although the vast majority of operating and short-term construction capacity remains in Britain.
The Eiffel Facility supports a portfolio of contracted assets that reflects BSR’s emphasis on co-location.
The 609 MW portfolio financed in 2025 included 12 solar projects and three co-located BESS assets, with a combined generation capacity of 536 MW of solar and 73 MW/146 MWh of battery storage. The addition of mezzanine capital suggests that BSR intends to make further investments in these assets and fund new developments outside the existing portfolio.
BSR received a building permit for its construction in January 2026 22MW/10MW Pudds Cross solar plus storage project in Hertfordshire, citing a net biodiversity gain of 110% at the site. This emphasis on biodiversity runs like a common thread through BSR’s project approach.
As deputy CEO Fran Button explained in a recent interview with Solar Current Portalthe company’s Nature Protection Pledge reflects a set of commitments to the communities its projects serve.
“We’re trying to be good stewards of that land and give it back in kind of a better condition in terms of soil health and in terms of kind of biodiversity and things like that, while at the same time producing electricity.”
