Clean energy solutions company Enviromena has secured a major refinancing deal of £65m, which aims to support the growth of its constructed and operational UK solar portfolio to over 500MW by 2025..

The equity raise with investors AIP, provides the Reading based company with all the capital required to roll out the 2025 plan and beyond. The business has also agreed a debt and construction facility to ensure all the sites can be funded.

In addition to the 500MW target, Enviromena will also utilise the funding to grow its self-developed ground mount solar pipeline to more than 2GW by 2025. The pipeline is already looking strong with over 400MW of projects set to be submitted into planning in the next six to nine months.

As part of the refinancing process, two experienced members of AIP’s team, Julian Skinner and Dmitry Sarin have been appointed to the Enviromena board further strengthening Enviromena’s senior team

Headquartered in the UK and with a regional office in Italy, Enviromena delivers transformative clean energy solutions across the UK and Europe and has more than 15 years’ global experience in developing, designing, constructing, managing and operating ground-breaking renewable energy projects.

The vastly experienced team at Enviromena has already constructed over 120 solar farms in the UK and will announce the start of projects totalling over 150MW’s before the end of the year with further schemes due to commence construction in 2024.

Enviromena’s Chief Financial Officer, Chris Marsh, said: “Enviromena is committed to leading the transition to a world powered by clean energy by providing safe, affordable, and reliable clean energy solutions to customers across the UK and Europe. This refinancing deal will provide us with the finances to build out our extensive pipeline and enable us to expand our portfolio more quickly.

In addition to supporting the ongoing development and build out of our existing self-developed pipeline, the re-financing deal also puts us in a strong position to acquire ready-to build projects developed by third parties to accelerate the growth of our portfolio.

It’s more important than ever that we look towards providing alternative, greener energies as uncertainties surrounding the cost of fuel continues and to help reduce the impact on climate change.”

For more information, please contact Lee Peck on 07887 535002 or email lee@leepeckmedia.com.