15 Nov 2021

Investec’s UK PIF team advises Low Carbon on its private capital raising

Investec’s UK Power and Infrastructure Finance team (“Investec”) acted as sole financial adviser to Low Carbon on a substantial private capital raising to fund its proprietary international renewable energy pipeline.

Low Carbon is a leading renewable energy investment, fund and asset management platform committed to the development and operation of renewable energy at scale. Low Carbon invests into both renewable energy developers and projects across a range of renewable energy technologies including solar PV, wind, energy storage, waste-to-energy and energy efficiency.  With a significant renewable energy pipeline in development, Low Carbon is well-positioned to capitalise on opportunities as the need for renewable energy and energy security increases.

Investec worked intensively with Low Carbon to develop a compelling equity story as a leading renewables independent power producer (IPP) and ran a competitive phased process.

Low Carbon ultimately chose to partner with the Massachusetts Mutual Life Insurance Company (MassMutual), a leading mutual life insurance company with a focus on delivering long-term value, and secured a substantial funding commitment from them.  By 2030, it is anticipated that the partnership’s operational renewables capacity (target 20GW) would have generated enough clean energy to avoid a total of more than 11 million tonnes of CO2e.

Jeremy Ellis, who led Investec’s team, commented:

“We were pleased to support Low Carbon through this intensive capital raising process and delighted that they have secured an ideal partner in MassMutual for their global renewables ambitions."

This is the latest successful private capital raising managed by Investec’s UK Power and Infrastructure Finance team, who have previously helped to secure financial partners for Brockwell Energy (a sustainable energy platform), Osprey (an electric vehicle rapid charging network) and SMS (a fully integrated energy infrastructure company).