Macquarie Invests GBP 155 Million In Residential UK Solar PV Provider A Shade Greener
Macquarie Infrastructure Debt Investment Solutions (MIDIS, London, UK) has provided three individual financing facilities to the private residential housing and commercial solar photovoltaic (PV) systems operator A Shade Greener (ASG).
The total funding amounted to GBP 155 million in total and was used to refinance solar PV portfolios of "free" feed-in tariff solar PV systems.
The facilities were advanced as part of a framework agreement between MIDIS and ASG, under which MIDIS will provide refinancing for portfolios of ASG's operational solar assets. This allows ASG to recycle capital and facilitate the roll out of its business model, while helping to cut energy bills for UK consumers.
"The UK solar PV sector is supported by an established and stable regulatory framework and we are delighted to partner with the leading free solar operator in the industry," said Kit Hamilton, Senior Vice President, MIDIS.
Simon Duncan, Chief Financial Officer, ASG added: "We were looking for a long-term lending partner who could help us grow and provide more UK homes and businesses with solar PV technology. MIDIS was able to provide us with certainty and visibility over our financing strategy, allowing us to expand and provide UK consumers access to free solar energy."
The deal comes after MIDIS' separate GBP 21.5 million financing of one of the largest UK solar projects in Pembrokeshire, mandated by the renewable energy infrastructure asset manager, Quercus Assets Selection.
