Solar project developers Verdant Energy and Aura Power Developments have merged to form a solar and battery energy storage system (BESS) independent power producer (IPP) with approximately 1 GW of operating and under-construction assets in the U.K.
The merger combines Verdant’s operating and under-construction solar and co-located battery storage portfolio with Aura Power’s contracted project portfolio and will operate under the Aura Power brand.
The combined company also has an approximately 10 GW development pipeline and will continue the selective development of Aura Power’s battery storage pipeline in Europe. Aura Power Founder and Chief Executive Simon Coulson will lead the combined company and retain a minority stake.
In connection with the transaction, CVC DIF secured financing from Eiffel Investment Group to support the merger, refinance existing junior facilities, and fund future growth of the combined project pipeline. CVC DIF made its investment through DIF Infrastructure VII.
Akereos Capital acted as financial and debt adviser, CMS acted as legal adviser, TLT acted as real estate adviser, DNV acted as technical adviser, and PwC advised on financial, tax and structuring matters to CVC DIF. Burges Salmon acted as legal adviser to Aura Power and Norton Rose Fulbright acted as legal adviser to ib vogt.
Simon Coulson, Founder and Chief Executive of Aura Power, said, “This merger with Verdant Energy, with the backing of CVC DIF, marks a transformative milestone for Aura Power. By combining our extensive development pipeline with Verdant’s robust delivery track-record, we are perfectly positioned to scale our IPP model. The deal provides us with both the financial strength and operational expertise to accelerate the delivery of critical solar and battery storage infrastructure, helping the U.K. meet its ambitious green energy targets.”
Founded in 2013, Aura Power has developed more than 2.1 GW of solar and battery storage projects to the ready-to-build or commercialized stage in the U.K. and international markets in partnership with ib vogt, the exiting shareholder.
In 2025, the company secured £33.1 million (~$41.1 million) project financing to develop and construct the 40 MW Burtree Lane solar project in Darlington, U.K., which is the second project in Aura Power’s 400 MWp+ solar portfolio to reach financial close with Rabobank, the first being a $39 million debt facility for the 49.9 MW Kemble solar project in October 2024.
Verdant, launched in 2022, has built a portfolio of approximately 660 MW of utility-scale solar and co-located battery storage assets that are operating or under construction across the U.K.
In 1H 2026, corporate M&A activity in the solar sector increased with 57 transactions compared to 50 transactions in the first half of 2025, as per the recently released Mercom’s 1H and Q2 2026 Solar Funding and M&A Report.
