Low Carbon, a leading renewable energy company, has secured a significant investment from CVC DIF, the infrastructure strategy of global private-markets manager CVC. Together with follow-on capital from existing shareholder MassMutual, the refinancing of project finance debt, and a new Holdco facility, the company will receive roughly £1.1 billion in committed capital (about $1.4 billion).
CVC DIF will take a majority controlling stake, deploying primary equity across common and preferred securities. The funding accelerates Low Carbon’s strategy to scale into a next-generation, pan-European Independent Power Producer (IPP) with a diversified renewable portfolio.
The investment arrives as the UK advances its Clean Power 2030 plan — which targets doubling onshore wind and tripling solar PV — and as the EU pursues a 42.5% renewable-energy target. With a 16 GW development pipeline and 1 GW of operational and in-construction assets, Low Carbon plans to increase its presence across core markets, including the UK, Germany, and Poland. The company aims to bring 3 GW of utility-scale solar, onshore wind, battery storage, and co-located projects online over the next several years.
CVC DIF’s involvement signals confidence in the company’s in-house team of 170 people and its proprietary AI-powered platform, which optimizes asset performance and drives long-term value creation. MassMutual, a major shareholder since 2021, will continue supporting Low Carbon’s growth alongside CVC DIF.
The investment will be made through DIF Infrastructure VIII and is expected to close in Q4 2025, subject to customary conditions. Evercore advised Low Carbon on the transaction.
KEY QUOTES:
“I would like to thank CVC DIF and their investors for the confidence they have placed in Low Carbon and our ability to develop, build and operate high-quality renewable assets in the UK and Europe. MassMutual’s continued investment underlines our shared ambition of delivering long-term value across the full investment cycle of renewables and accelerating our goal to deploy renewable energy at scale to help tackle climate change.”
Roy Bedlow, Founder & CEO, Low Carbon
“We are excited to partner with Low Carbon, a best-in-class renewable energy company we have known for more than a decade. This investment reflects our shared conviction in the critical role renewables will play in the energy transition. Low Carbon’s talented team, strong culture, and disciplined development strategy position it to lead the next phase of growth.”
Caine Bouwmeester, Partner & Head of Renewable Energy, CVC DIF
“Significant strides have been made since our original investment in Low Carbon to distinguish it as a top-performing renewable energy company. We welcome the capital and experience that CVC DIF brings, which will support the buildout of our ambitious pipeline of renewable-energy projects.”
Drew Dickey, Head of Alternative Investments, MassMutual
