Macquarie Infrastructure Debt Investment Solutions (MIDIS) has provided three individual financing facilities to PV operator A Shade Greener (ASG).
The total funding amounts to £155m and was used to refinance free solar portfolios of Feed-in Tariff solar panels.
The facilities were advanced as part of a framework agreement between MIDIS and ASG, under which MIDIS would provide refinancing for portfolios of ASG’s operational free solar assets.
This would allow ASG to recycle capital and facilitate the roll out of its business model, while helping to cut energy bills for UK consumers.
MIDIS senior vice president Kit Hamilton said: “The UK solar PV sector is supported by an established and stable regulatory framework and we are delighted to partner with the leading free solar operator in the industry. The ASG financings represent excellent assets for our pension fund and insurance investors on whose behalf we are sourcing long-term, stable assets in defensive infrastructure sectors.”
The deal comes after MIDIS’ separate £21.5m financing of one of the largest UK solar projects in Pembrokeshire, mandated by the renewable energy infrastructure asset manager Quercus Assets Selection.
MIDIS, a part of Macquarie Group, invests in infrastructure debt for a range of global institutional investors.