Asset manager ICG protects bulk stake in BSR

Jul 29, 2022 12:41 PM ET
  • Intermediate Capital Group has actually obtained a 83.5% ownership from Siem Europe
Asset manager ICG protects bulk stake in BSR
Image: British Solar Renewables

Worldwide asset manager Intermediate Capital Group (ICG) has actually gotten a majority stake in British Solar Renewables (BSR) through its debut Framework fund ICG Infra I.

ICG Infrastructure Equity efficiently increased EUR1.5 bn in capitalist commitments in February 2022, acquiring 83.5% of the business from Siem Europe to end up being the majority owner.

As part of its brand-new collaboration, ICG will certainly sustain BSR's growth from a designer to a leading Integrated Power Producer (IPP) within the UK with the objective to have over 1.5 GW of renewable capacity in operation in the next 5 years, equal to powering 375,000 houses.

The existing management group will certainly continue to be as investors and also will certainly function along with ICG to establish the existing pipe and company to proceed the focus on building excellent quality renewable energy projects to help the UK achieve its Web No emissions target by 2050.

Located in Somerset, British Solar Renewables was one of the first designers of solar photovoltaic in the UK, ICG claimed.

Because creation in 2011, BSR has actually efficiently developed, developed, as well as ran nearly 1GW of solar and also energy storage plants in the UK to help reduce greenhouse gas emissions and has strong expansion strategies to construct and operate solar as well as storage assets in the UK, the company included.

ICG head of facilities Guillaume d'Engremont said: "Accessibility to renewable resource is an essential component of global climate efforts, as well as we are delighted to partner with BSR, supplying capital to fund new solar projects, as we continue towards the Fund's objective of investing in lasting European facilities."

" We are confident that BSR's strong monitoring team, durable pipeline of projects and also innovative operations positions the company for continued development as well as influence."

BSR ceo Tim Humpage said: "We delight in to collaborate with ICG Infra to increase our advancement as well as increase our capabilities as we change right into one of the leading renewable IPP in the UK.

" We are seeing even more demand than ever before for renewable energy resources, and also with the support of ICG Infra, we will be able to scale our service with a shareholder that understands and also is dedicated to funding renewables."

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