Solar panel

Barclays provided the £76m term facility for the 24.7MW Abbots Ripton, 19.3MW Mingay Farm and 32.4MW Ermine Street projects

Octopus acquired the projects from Lightsource in April 2014. The solar farms were built under the Renewables Obligation subsidy regime.

Lightsource advised on the senior debt refinancing, which included a long-term power purchase agreement signed with npower.

Lightsource Renewable Energy structured finance director Paul McCartie said: "It is our ambition to achieve more than 1GW of installed capacity by March 2015 and refinancing is an essential component in helping us reach this important industry milestone.

"We look forward to working with Barclays in future on further financings."

Barclays director of infrastructure and project finance Neil Fleming said: "As a business, Barclays is a huge advocate of the UK market and is committed to assisting the transition to a low carbon economy and increasing the number of green jobs in the UK."

Barclays funded more than 200MW of UK solar projects in the past three years.

Lightsource has recently unveiled plans to invest over £125m into the UK rooftop solar market in 2015.

The company plans to deliver 120MW of installations on commercial buildings, schools, households and social housing.

Image: Barclays provided the £76m term facility for three solar projects in the UK. Photo: Courtesy of Naypong/FreeDigitalPhotos.net.