ICG Infra buys majority of UK solar developer transitioning into IPP

Image Credits: British Solar Renewables.

July 29 (Renewables Now) - The debut infrastructure fund of global alternative asset manager ICG has taken control of British Solar Renewables (BSR), which is one of the first solar project developers in the UK and will now seek to establish itself as an independent power producer (IPP).

ICG Infra I has bought a majority stake in the business for an undisclosed amount from Siem Europe, leaving a minority shareholding to the current management team.

Somerset-headquartered BSR was founded in 2011. To date, the firm has successfully developed, built and operated almost 1 GW of solar and energy storage plants in the UK and now seeks to create a 1.5-GW-plus portfolio of operational renewable energy plants over a period of five years.

“We are pleased to work with ICG Infra to accelerate our development and expand our capabilities as we transition into one of the leading renewable IPP in the UK. We are seeing more demand than ever for renewable energy sources, and with the support of ICG Infra, we will be able to scale our business with a shareholder that understands and is committed to funding renewables,” commented Tim Humpage, CEO of BSR.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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