Major solar financing deal closes successfully

13 May 2026Announcements

Eversheds Sutherland has facilitated an £825 million financing deal for Enviromena, boosting the UK’s solar capacity growth

In a significant development for the UK's renewable energy sector, Eversheds Sutherland has successfully advised senior lenders on an £825 million senior portfolio financing agreement for Enviromena. This transaction is regarded as one of the largest solar financings completed in the UK this year and aims to support the rapid delivery of a 1GW solar pipeline across the nation. The move comes as demand for clean, domestically generated energy continues to surge, marking a pivotal moment for Enviromena as it expands its renewable energy platform.

The debt financing has been provided by notable banks including BBVA, Intesa Sanpaolo, Lloyds Bank, NatWest, and Société Générale. Initially, £525 million has been committed, allowing for immediate capital to kick-start projects. The overall financing structure is designed for flexibility, incorporating a £300 million uncommitted accordion to facilitate portfolio growth as projects transition from late-stage development to construction and operation.

This landmark transaction significantly enhances Enviromena's ability to deliver large-scale solar projects efficiently, thereby supporting the UK's energy transition and its net zero ambitions. Mark Dennison, Partner at Eversheds Sutherland, expressed his enthusiasm by stating “We’re delighted to have supported the lender group on this significant transaction. This financing demonstrates the scale of investment continuing to flow into solar pv in the UK and underlines the critical role that large-scale solar will play in strengthening energy security and supporting the UK’s net zero objectives."

The Eversheds Sutherland team responsible for this major transaction was led by partner Mark Dennison and associate Eunice Wong. The finance team also included senior associate Joanne Lim, while the construction team featured partner Richard Streeter and principal associate Sacha Bacco. Additionally, the regulatory and PPAs team involved partner Ben Brown, legal director James Shawe, senior associates Rory Budworth and Rob Broom, and associate Melinda Szekeres. Finally, the hedging team comprised partner Stefanie Sahla Jones and associate Agata Lawrenciow. Financial advisory services for Enviromena were provided by Perella Weinberg Partners, further emphasising the calibre of support behind this significant financing initiative.

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