Global alternative asset manager ICG Infra has acquired British Solar Renewables (BSR), one of the largest integrated solar developers in the UK.
BSR, since its inception in 2011, has developed, built and operated nearly 1GW of solar and energy storage plants in the UK, helping reduce greenhouse gas emissions.
Following the acquisition, ICG intends to support BSR’s growth from a developer to an integrated power producer (IPP) within the country, with the aim to have more than 1.5GW of renewable energy capacity in operation over the next five years.
That would be equivalent to powering around 375,000 homes annually.
ICG, which acquired the business from Siem Europe, will become the majority owner of BSR, with the current management team remaining as shareholders and working alongside the company to develop the renewable pipeline and help the UK achieve its net zero emissions target by 2050.
Guillaume d’Engremont, Head of Infrastructure at ICG said: “Access to renewable energy is an important component of global climate efforts and we are delighted to partner with BSR, providing capital to fund new solar projects, as we continue towards the Fund’s goal of investing in sustainable European infrastructure.”