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Elgin, a fully integrated, utility-scale solar and storage Independent Power Producer, today announced it has secured up to £500 million of funding from a banking syndicate to accelerate the build-out of its UK pipeline over the coming years.
The banking group is comprised of the largest lenders in the UK renewables market including BNP Paribas, Siemens Bank, Société Générale, Standard Chartered and NatWest who also acted as sole structuring and coordinating bank.
In February 2026, Elgin, secured eight contracts in the UK’s Allocation Round 7 (AR7) Contracts for Difference (CfD) auction totaling 382 MW of capacity. The company secured contracts totaling 164 MW in the previous AR6 (2025) and 130 MW in AR5 (2023).
The projects earmarked for this financing are scheduled to be energised over the coming years with a target of having all operational before 2030. Construction on some of these projects has already commenced, with ground broken on the 24.5MWp Maes Mawr solar project in Glamorgan, Wales. The projects will have the potential to reduce UK carbon emissions by over 200,000 tonnes, making a significant contribution to meeting the UK’s Net Zero targets. Watson Farley & Williams and DLA Piper acted as legal counsel to Elgin and the lenders respectively, while Fichtner, Marsh and Howden acted as technical and insurance advisors on the transaction.
“This £500 million financing facility is a significant milestone for Elgin as we continue our transition into a leading Independent Power Producer (IPP). The funding will support the delivery of our near term solar and co-located projects, accelerating our contribution to the UK’s energy transition while responding directly to the need for more flexible and resilient infrastructure.
The outcome reflects the strength of our development platform and the quality of the team behind it, as well as the confidence shown by our investment partners in Elgin’s strategy and execution capability.”
Elgin is a fully integrated, utility-scale solar and storage Independent Power Producer, developing, building, owning and operating renewable energy assets across the UK, Ireland, Germany and Italy.
With a 10GW+ pipeline spanning solar, co-located and standalone storage projects, Elgin brings projects from origination through development to energisation and long- term operation. The company has delivered over 1GW of ready-to-build projects, with more than 200MW currently under construction across the UK and Ireland.
Founded in 2009, Elgin has a team of over 140 operating across offices in Dublin, London, Ulm and Rome. Elgin is backed by Copenhagen Infrastructure Partners (CIP), which acquired a majority stake in 2024.
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) is a global fund manager and leading investor in energy infrastructure. CIP builds value that matters by developing and constructing critical infrastructure projects that shape the future of energy.
Through its funds, CIP invests in power generation (solar and wind), energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels and carbon capture. W
ith 15 funds currently under management, CIP is trusted by over 200 of the world’s largest and most sophisticated institutions, having raised EUR ~37 billion to date. CIP has projects in more than 30 countries, with presence on the ground through a network of +2,300 professionals.
For more information, visit www.cip.com
