CVC Capital Partners is set to become the majority owner of UK-based green-power developer Low Carbon after leading a £1.1bn ($1.3bn) investment to scale the company’s renewable energy portfolio across Europe, according to Bloomberg.

The funding, made through CVC’s DIF Infrastructure VIII fund, will support the expansion of solar parks, onshore wind farms, and battery storage projects in core markets such as the UK, Germany, and Poland. Existing shareholder Massachusetts Mutual Life Insurance Company also contributed to the round.

Caine Bouwmeester, partner and head of renewable energy at CVC DIF, commented: “As a private markets company, we’re clearly looking for attractive risk returns through cycles. From our perspective, it’s quite an attractive entry point in the market.”

The transaction adds to a growing wave of large private market allocations into renewable infrastructure. Apollo agreed to invest $6.5bn in an Orsted offshore wind farm last month. Brookfield has been active with several major clean-power deals this year. Copenhagen Infrastructure Partners closed a €12bn renewables fund in March, its biggest to date.

Rising energy demand from AI data centres and electrification is driving valuations higher across the clean-energy sector. The S&P Global Clean Energy Transition Index is up 45% this year, compared with a 16% rise in the S&P 500.

Low Carbon has a development pipeline of about 16GW and around 1GW of operational or in-construction assets. The new capital will allow the company to accelerate build-out across its European portfolio as governments work to reduce reliance on natural gas.

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