ICG has acquired British Solar Renewables (BSR), one of the largest integrated solar developers in the United Kingdom, from Siem Europe for an undisclosed amount.
Since its inception in 2011, BSR has developed, built and operated nearly 1 gigawatt of solar and energy storage plants in the region. After the transaction, ICG will support BSR’s growth from a developer to an Integrated Power Producer (IPP), with the aim of having more than 1.5 gigawatts of renewable capacity in operation in the next five years.
“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,” said Guillaume d’Engremont, head of infrastructure at ICG.
ICG acquired BSR via its debut infrastructure fund, ICG Infrastructure Equity 1, which concluded fundraising with €1.5 billion ($1.
