ICG’s debut Infrastructure fund, ICG Infra I, has acquired British Solar Renewables (BSR), one of the largest integrated solar developers in the UK.
ICG Infrastructure Equity successfully raised €1.5 billion in investor commitments in February 2022.
ICG Infra has acquired the business from Siem Europe and will become the majority owner of BSR. The current management team will remain as shareholders and will work alongside ICG to develop the current pipeline and business to continue the focus on building high quality renewable energy projects to help the UK achieve its Net Zero emissions target by 2050.
Located in Somerset, British Solar Renewables (BSR) was one of the first developers of solar photovoltaic in the UK. Since inception in 2011, BSR has successfully developed, built, and operated nearly 1 GW of solar and energy storage plants in the UK to help reduce greenhouse gas emissions and has strong expansion plans to build and operate solar & storage assets in the UK. As part of its new partnership, ICG will support BSR’s growth from a developer to a leading Integrated Power Producer (IPP) within the UK with the aim to have over 1.5GW of renewable capacity in operation in the next 5 years, equivalent to powering 375,000 homes.
