Renewable energy developer and IPP Low Carbon has completed a debt raise of more than £500 million to refinance an existing construction line for its 1GW solar and BESS portfolio.
The UK-based company will deploy the new 10-year Senior Facility for its solar and battery energy storage systems (BESS) under construction or in operation in Britain, Germany and Poland. It is a platform financing and may also include new assets in the future.
The debt increase is one of the largest in European renewables, Low Carbon said. It is part of the capital structure implemented as part of the infrastructure fund CVC DIF’s investment in the company, announced in December 2025.
The Senior Facility will be supplemented by an additional five-year Holdco facility to finance Low Carbon’s development activities and construction capital for future assets.
The debt increase was participated by the banks Lloyds, NatWest, Intesa Sanpaolo (IMI CIB) and AIB, existing lenders of Low Carbon. New lenders now include Société Générale, HSBC, DNB, CIBC, Santander and SMBC.
The company uses renewable energy sources and BESS according to its own model, but also sells projects as a developer. In June 2025 it connected 129 MW of solar energy to the UK electricity grid And the following month a 500 MW solar project was sold to EDF. Then in October, it sold a 6GW BESS portfolio in the Netherlands to owner-operator S4 Energy.
