Augusta & Co is pleased to announce the signing of CVC DIF’s majority investment in Low Carbon – one of the UK’s leading renewable energy Independent Power Producers (“IPPs”). Augusta & Co, which recently became part of the Mizuho Financial Group, served as the exclusive buy-side financial adviser to CVC DIF, the infrastructure strategy of leading global private markets manager CVC.
Headquartered in London, Low Carbon develops, builds, owns and operates solar PV, BESS, onshore wind and bioenergy assets across the UK, Europe and Canada. The majority investment from CVC DIF will help accelerate the scale-up of Low Carbon’s operating base from c. 1GW today to over 3GW in its core markets of UK, Germany and Poland.
As part of the transaction, targeted to close later this month, Low Carbon is raising project finance and a TopCo loan facility to refinance existing debt and optimise the capital stack of the company. This, along with CVC DIF’s investment, will secure c. £1.1bn of committed capital and ensure Low Carbon is one of the best funded IPPs in the UK with the company’s current shareholders MassMutual and Low Carbon Group Limited remaining invested.
Caine Bouwmeester, Partner and Head of Renewable Energy at CVC DIF commented: “We thank the Augusta team for their support throughout every aspect of this complex transaction. Their expertise across multiple energy markets and technologies has been very valuable.”
Charlie Hodges, Partner at Augusta & Co commented: “We were delighted to advise CVC DIF and its latest fund DIF Infrastructure VIII on this landmark transaction. Besides being one of the largest European IPP transactions of 2025 it is a clear vote of confidence in the UK. We have known the brilliant Low Carbon team for a long time and congratulate all parties on this exciting result.”
Contacts:
Charlie Hodges: CHodges@augustaco.com
Nikita Chandrashekar: NChandrashekar@augustaco.com