Supporting with expertise
The deal further underlined NatWest Group’s credentials as a market leader in UK solar funding. Between the start of 2019 and early 2024 we had arranged financing for more than £2.5 billion of solar projects, mostly through direct lending and underwriting. We are also active as an advisor and private placement agent.
Our expertise in solar projects, particularly our deal team’s appreciation of the operational track record of the assets, enabled the transaction to be completed within four weeks of being mandated. This paved the way for a long-term relationship with significant opportunities to support the growth of Arjun’s renewables portfolio.
That growth has continued in recent years. Arjun now manages a portfolio of assets totalling more than 2GW of renewable capacity across the UK and Europe.
In September 2023, NatWest Group again supported Arjun as the sole debt coordinator and hedging bank for the refinancing and upsizing of the customer’s fully operational UK solar portfolio consisting of 22 assets (totalling approximately 130MW of renewable capacity).
The deal team was able to support the customer in meeting a three-week credit and closing timeframe, further strengthening our position in the domestic solar market. It is this ability to understand the market and move quickly to navigate and resolve asset-level issues prevalent for mature operational assets in the sector that allow us to deliver effectively for our customers.
