en.Wedoany.com Reported - UK independent power producer Enviromena has secured £825 million (approx. $1.1 billion) in financing to advance its 1 GW solar photovoltaic project portfolio in the UK. The funds were underwritten by multiple institutions, including BBVA, Intesa Sanpaolo, Lloyds Bank, NatWest, and Société Générale. The initial commitment stands at £525 million, with an additional £300 million in uncommitted revolving credit facility, which can be flexibly expanded as projects progress.

Enviromena CEO Chris Marsh stated: "This is a landmark transaction for our business and a testament to the strong momentum of our growth strategy. With this support, we are accelerating our transition from development to delivery, building a gigawatt-scale solar platform to power homes and businesses while supporting the UK's energy transition."

A few months ago, the company secured two contracts from the UK government in the latest round of Contracts for Difference (CfD) allocation. The two supported solar PV projects are located in Western Shropshire, with a total installed capacity of 90 MW. Construction began earlier this month, with approximately 125,000 panels scheduled to be installed by early summer, targeting grid connection by the end of 2026. Enviromena currently manages nearly 400 MW of renewable energy assets, with another 3 GW of projects in development.

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