The firm has advised the global alternative asset manager on the acquisition of one of the largest integrated solar developers in the UK
ICG manages and invests capital on behalf of their clients by developing long-term and resilient relationships that deliver sustainable value. With more demand than ever for renewable energy sources, ICG aims to help companies scale their business as a shareholder committed to funding renewables.
Located in Somerset, British Solar Renewables was one of the first developers of solar photovoltaic in the UK. Since inception in 2011, BSR has successfully developed, built, and operated nearly 1 GW of solar and energy storage plants in the UK to help reduce greenhouse gas emissions and has strong expansion plans to build and operate solar & storage assets in the UK. As part of its new partnership, ICG will support BSR’s growth from a developer to a leading Integrated Power Producer within the UK with the aim to have over 1.5GW of renewable capacity in operation in the next 5 years, equivalent to powering 375,000 homes.
The Burges Salmon team advising on the deal was led by Corporate partner Jonathan Eves and Projects partner Ross Fairley, alongside director Alex Lloyd, senior associate Amy Carr and associate Martin Davidson (all from the firm’s Corporate team).
Jonathan Eves comments: “This transaction marks another significant step forward in ICG’s journey. Working with them throughout is part of our commitment to not only supporting our clients with expertise, but also supporting the UK in delivering renewable energy solutions that will help towards the UK’s Net Zero emissions target.”