egg Power, Liberty Global’s investment vehicle to develop, build, own, and operate renewable energy projects, providing low-cost clean energy to customers, secured up to £400 million (~$536 million) in debt financing from NatWest Group to accelerate its development of large-scale renewable energy projects across Europe.
NatWest Group acted as the sole underwriter, structuring bank, mandated lead arranger, hedging bank, facility agent, and security trustee for the flexible construction financing facility, which will initially provide non-recourse debt finance for the company’s 250 MW of solar and wind projects under construction or development, and in total support up to 500 MW of projects in the U.K. and Europe.
The international contractors, EPC, are delivering construction, with three solar projects in the U.K., Grange, Rainsbrook, and Rag Lane – currently being built. The full portfolio is expected to achieve Commercial Operation Date (COD) between Q2 2026 and Q1 2027. Once operational, the projects are expected to generate approximately 420 GWh of renewable-based electricity annually. The projects are underpinned by long-term power purchase agreements with creditworthy offtakers.
Ilesh Patel, who leads the egg Power business at Liberty Global, said, “This financing is the culmination of 12 months of work and marks a significant milestone for egg Power. Partnering with NatWest reinforces our commitment to delivering energy security, cost efficiency, and sustainability for the telecoms and digital infrastructure sectors and other energy-intensive industries. The agreement marks a significant step towards egg Power’s goal of delivering 1,500 MW of clean energy capacity by 2028 under long-term Power Purchase Agreements (PPAs). With Liberty Global’s backing and NatWest’s support, egg Power is well-positioned to become one of Europe’s most strongly supported renewable energy platforms.”
The company acquired the project’s rights to the 70 MW Grange Solar in Suffolk from PS Renewables (Padero Solar Renewables), a U.K. renewable energy company, in December 2025.
Large-scale project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
