Lightsource expands solar portfolio with £103m funding package from The RBS
Lightsource Renewable Energy Limited has secured a £103m term loan for the acquisition of 14 UK solar assets (13 UK ground mounted solar farms and 1 UK commercial roof top) with RBS.
This latest portfolio of 14 UK solar assets generates enough green electricity to power over 11,286 UK households
RBS has a established presence in the UK solar market, having funded c. 500MWp utility scale and rooftop solar transactions to date, acted as arranger, account bank, hedging bank, facility agent and security trustee. This latest deal represents a major transaction in the UK to support large scale solar energy projects.
Paul McCartie, Finance Director for Lightsource comments: "We have a strong appetite for development and a significant pipeline. RBS has proven to be an exceptional, supportive partner and we have appreciated its strong market knowledge and commitment."
Craig Love who is a Director on the Infrastructure & Structured Corporate Financing, RBS, comments: "We are delighted to support this project which represents a significant deal for Royal Bank of Scotland, and further endorses the expertise of our team. We highly value the relationship developed with Lightsource through this transaction and earlier financings. We have a pipeline of deals in the UK solar space that we are currently working on including further large scale projects under the Renewables Obligation and rooftop projects under the Feed-In Tariff regime."
