Low Carbon Link

CVC DIF, the infrastructure strategy of private markets investment manager CVC, agreed to acquire a majority controlling stake in European renewable energy company Low Carbon, committing primary equity via common and preferred shares and securing around £1.1 billion of committed capital for the business together with additional investment from existing shareholder MassMutual and associated refinancing and facilities. Low Carbon, which develops, builds and operates utility-scale renewable energy projects across the UK and Europe and manages a 16 GW development pipeline alongside 1 GW of operational and in-construction assets, plans to use the new capital to expand in core markets including the UK, Germany and Poland and to deliver a 3 GW portfolio of operational projects in the coming years.