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British Solar Renewables (BSR) has secured GBP 345 million (USD 471 million) in financing to develop one of the UK’s largest hybrid solar and battery storage portfolios, marking a major milestone in the country’s clean energy transition.
The financing will support 12 solar projects and three co-located battery energy storage system (BESS) assets, with a combined solar generation capacity of 536 MW and battery capacity of 73 MW/146 MWh.
Together, these projects are expected to generate around 600 GWh of clean electricity annually, enough to power approximately 160,000 homes and offset 140,000 tonnes of carbon emissions each year.
Intercontinental Portfolio
The portfolio includes one international project in Australia, featuring a solar asset with an installed capacity of 37 MW. Five of the 12 sites are already operational, while the remaining projects are either under construction or scheduled to break ground by the end of 2025.
This large-scale investment is aligned with the UK’s legally binding net zero targets and the government’s ambition to become a global Clean Energy Superpower.
Backed by Leading Banks
The GBP 345 million flexible senior debt facility was provided by a consortium of UK and international banking partners, including Lloyds Bank, NatWest, Commonwealth Bank of Australia (CBA), and Landesbank Baden-Württemberg (LBBW). Legal counsel for the transaction was provided by Bracewell LLP.
The capital will accelerate BSR’s project pipeline and help deliver long-term value to investors, partners, and local stakeholders.
Michael Ozersky, Chief Investment Officer at BSR, described the transaction as a ‘landmark deal’ and emphasised the importance of co-located solar and storage systems in providing clean, reliable energy at scale.
“This financing highlights the strength of our co-location strategy and our innovative approach to delivering clean, reliable power at scale,” said Michael Ozersky. “We are proud to play our part in driving the energy transition forward.”
Founded in 2010 and headquartered in Shepton Mallet, British Solar Renewables has over a decade of experience in renewable energy project development and operation.