Asset manager ICG’s debut Infrastructure fund, ICG Infra I has acquired British Solar Renewables (BSR), one of the largest integrated solar developers in the UK.
ICG Infrastructure Equity successfully raised €1.5bn in investor commitments in February 2022.
Since inception in 2011, BSR has successfully developed, built, and operated nearly 1GW 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 and 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 (IPP) within the UK with the aim to have over 1.5GW of renewable capacity in operation in the next 5 years.
BSR is the largest privately-owned, integrated solar developer in the UK developing, building and managing utility-scale renewable energy and storage projects across the UK and Australia.
ICG Infra has acquired the business from Siem Europe and will become the majority owner of BSR. The current management team will remain as shareholders and will work alongside ICG to develop the current pipeline and business to continue the focus on building high quality renewable energy projects to help the UK achieve its emissions target by 2050.
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