Low Carbon gains $1.4bn from CVC DIF to drive renewable energy growth

Core Insights - Low Carbon has secured a significant investment from CVC DIF, totaling around £1.1bn ($1.45bn), to drive its growth and transition into a diversified independent power producer [1][2][5] Investment Details - The investment from CVC DIF, along with additional funding from MassMutual and refinancing of existing debts, will support the delivery of several gigawatts of renewable energy [1][2] - CVC DIF's investment will result in a majority controlling stake in Low Carbon, which includes both common and preferred shares [2] Market Context - The UK government's Clean Power 2030 plan requires £40bn of annual investment to double onshore wind capacity and triple solar photovoltaic (PV) [3] - The EU has set a new renewable energy target of 42.5%, positioning Low Carbon to play a central role in delivering clean electricity across the UK and Europe [3] Operational Capacity - Low Carbon currently manages a 16GW pipeline and has 1GW of operational and in-construction assets [4] - The latest capital will support growth in key markets such as the UK, Germany, and Poland, with plans to bring a 3GW portfolio of operational utility-scale solar, battery storage, and onshore wind online [4] Strategic Partnerships - MassMutual remains a significant shareholder and will continue to support Low Carbon's growth through further investment [5] - The collaboration between MassMutual and CVC DIF aims to expedite the development of Low Carbon's renewables pipeline [5] Advisory Role - Evercore served as the adviser to Low Carbon on the transaction [6]