Exeter-based firm secures £106m refinancing deal

Andromeda Capital, the Exeter-based investment company and owner of leading renewable energy investor, Low Carbon, is pleased to announce the completion of its £106 million refinancing deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS) for part of its existing portfolio of operational UK solar parks.

The refinancing deal enables Andromeda-owned Low Carbon to continue its momentum in driving scale in the development of clean, renewable energy. With a strong track record in funding and managing solar assets, Low Carbon has developed one of the largest portfolios of solar parks across the UK, with over 270MW funded and in operation today.

The twelve solar parks refinanced in this deal were developed and constructed under the stewardship of Low Carbon and have been in operation for at least one year. Operated by Low Carbon, the solar parks generate a total of 99.2MW in renewable energy – enough to power approximately 29,800 homes and save more than 47,200 tonnes of CO2 per year.

Roy Bedlow, Director, Andromeda Capital added: “Appetite for renewable energy investments is continuing to grow, as investors seek sustainable options which still deliver high returns. The scale of this deal underlines the growing trend towards more sustainable investments which we are seeing in the market today.”