EGG POWER SECURES UP TO £400 MILLION FINANCING

egg Power, Liberty Global’s clean energy infrastructure investment business, has secured up to £400 million in debt financing from NatWest Group to accelerate its development of large-scale renewable energy projects across Europe.

As a wholly-owned part of Liberty Growth – Liberty Global’s investment arm focused on scalable technology, media, sports and infrastructure – egg Power is strategically positioned to meet the accelerating clean energy needs of telecoms operators, digital infrastructure providers and other energy‑intensive industries. This demand is being driven by the surge in AI adoption and exponential growth in data usage, heightening the need for reliable, sustainable power at scale.

NatWest Group acted as Sole Underwriter, Structuring Bank, Mandated Lead Arranger, Hedging Bank, Facility Agent and Security Trustee for the flexible construction financing facility, which will initially provide non-recourse debt finance for egg Power’s c. 250 MW of solar and wind farms under construction or development, and in total support up to 500 MW of projects in the UK and Europe.

Ilesh Patel, who leads the egg Power business at Liberty Global, said: “This financing is the culmination of 12 months of work and marks a significant milestone for egg Power. Partnering with NatWest reinforces our commitment to delivering energy security, cost efficiency and sustainability for the telecoms and digital infrastructure sectors and other energy-intensive industries. The agreement marks a significant step towards egg Power’s goal of delivering 1,500 MW of clean energy capacity by 2028 under long-term Power Purchase Agreements (PPAs).  With Liberty Global’s backing and NatWest’s support, egg Power is well-positioned to become one of Europe’s most strongly supported renewable energy platforms.”

Kristofer Gibson, Project Finance at NatWest, commented: “We are incredibly proud to have played such a crucial role in supporting the egg Power platform to deliver meaningful new clean energy power production in the UK and Europe. This is a major achievement and reflects a lot of hard work and collaboration between the NatWest, Liberty Global and egg Power teams over the past year. By structuring and underwriting a flexible construction facility, we were able to showcase our market-leading capabilities in renewable energy financing. and the transaction rounds off an extremely strong year for NatWest’s Project Finance franchise. It is also very pleasing to be able to deepen our relationship with a key client whilst helping them move into a new sector, and we are very excited to grow this partnership over the coming years”.

egg Power’s projects, which leverage Liberty Global’s expertise in financing large-scale infrastructure, investing in scale-up businesses and serving B2B customers, will also deliver tangible local benefits. These include creating jobs during construction and operations, sourcing from local supply chains, ecological improvements such as planting native grasslands and wildflower meadows, reinforcing hedgerows and establishing habitat strips on site.

Portfolio and Financing Highlights:

• Electricity generation: The initial financed portfolio anticipates approximately 250 MW of combined solar and wind projects in the UK. Once operational, the projects are expected to generate approximately 420 GWh of clean electricity annually, enough to power the equivalent of 120,000 homes.
• Key Contracts: Assets are underpinned by long-term Power Purchase Agreements (PPAs) with creditworthy offtakers, ensuring predictable cash flows required for non-recourse financing structures.
• Construction Status: Leading international contractors, EPC, are delivering construction, with three solar projects in the UK – Grange, Rainsbrook and Rag Lane – currently being built.  The full portfolio is expected to achieve Commercial Operation Date (COD) between Q2 2026 and Q1 2027.
• Financing Structure: As a non-recourse facility, the debt is secured solely by the assets and future cash flows of project-specific Special Purpose Vehicles (SPVs). The flexible construction warehouse facility can scale to approximately £400 million.