Published: 13 Aug 2021, 11:14
The Owls Hatch solar farm, which BSR sold to Cubico Sustainable Investments in 2016. Image: BSR.
British Solar Renewables (BSR) is exploring acquisition opportunities after recognising it will need increased access to construction finance and growth capital.
The developer – which has developed, constructed and operated fifty-seven solar plants and has an initial 1GW PV development pipeline in the UK and Australia – has appointed PKF Francis Clark to advise on the potential acquisition.
BSR is looking for a full acquisition, with existing shareholders being unanimous in their belief that this is now necessary in order to fulfil its potential as a global owner of renewable assets, with the company currently self-funding from a development perspective.
Tim Humpage, CEO BSR said: “We’re incredibly proud of all that BSR has achieved over the last decade. Through ambition and dedication, the management team has created a unique platform, prime for growth and expansion.
“This is a unique moment for the sector, as it seeks to support the UK in achieving net zero carbon emissions by 2050. The time is right to seek acquisition, in order that we can reach our full potential as a global owner of renewable assets”.
BSR formed part of a consortium involved in the development of what was celebrated as the largest council-owned energy storage site in the UK, South Somerset District Council’s 30MW Fideoak Mill site, which was energised in 2020. BSR EPC is also acting as the project roll out connection contractor for a further battery storage development from South Somerset District Council, this one – a 40MW site – is expected to be operational by 2022.