Egg Power has secured up to £400 million ($536 million) in debt financing from NatWest Group to accelerate the development of large-scale renewable energy projects across Europe.
The company operates as the clean energy infrastructure investment arm of Liberty Global.
Through this financing, egg Power aims to expand its portfolio in response to the growing demand from telecommunications operators and digital infrastructure providers.
The company is targeting scalable infrastructure that supports sectors experiencing growth through AI adoption and increased data usage.
In this financing arrangement, NatWest Group acts as sole underwriter, structuring bank, authorized lead arranger, cover bank, facilities agent and security trustee.
The flexible construction finance mechanism will initially support approximately 250MW of solar and wind farms under construction or development in the UK. The total funding is intended to support projects totaling up to 500 MW in the UK and Europe.
Egg Power said its projects include local ecological improvements such as planting native grasslands and wildflower meadows, as well as reinforcing hedgerows. Additionally, the projects will create jobs during the construction and operation phases, source from local suppliers, and establish habitat strips on the site.
Once completed, the initial projects in the UK are expected to supply around 420 gigawatt-hours of electricity per year, enough to power 120,000 homes. The assets are backed by long-term power purchase agreements (PPAs) with creditworthy buyers, ensuring stable cash flows for the non-recourse debt.
Construction is currently underway on three UK solar sites, Rainsbrook, Rag Lane and Grange, with the work being carried out by international engineering, procurement and construction contractors. The entire portfolio is planned to come online between Q2 2026 (Q22026) and Q1 2027.
Liberty Global egg Power director Ilesh Patel said: “This financing is the culmination of 12 months of work and marks a significant milestone for egg Power. The partnership with NatWest reinforces our commitment to delivering energy security, cost efficiency and sustainability for the telecommunications and digital infrastructure sectors and other energy-intensive industries.
“The agreement marks a significant step towards egg Power’s goal of delivering 1.5 GW of clean energy capacity by 2028 under the long-term PPA framework.
“With the backing of Liberty Global and the support of NatWest, egg Power is well positioned to become one of the most supported renewable energy platforms in Europe.”
Last month, egg Power acquired the rights to the Grange solar farm project in Suffolk from Padero Solaer Renewables, its third major solar project in the UK.