Swedish solar developer and independent power producer Alight has secured £34 million in financing to support the development of a new commercial and industrial solar portfolio in the UK. The funding has been provided by Nordic financial group SEB and will be used to build behind-the-meter solar photovoltaic projects aimed at corporate energy users.
The portfolio will comprise more than 50MW of installed capacity. Alight expects all projects to be commissioned by the end of 2027, marking a further expansion of its UK operations. The company confirmed that long-term power purchase agreements have already been signed with several blue chip commercial and industrial customers, although it did not disclose the names of the offtakers.
The financing highlights continued interest from lenders in decentralised renewable energy assets, particularly projects that reduce reliance on constrained electricity grids. Behind-the-meter solar installations generate power directly at or near the point of consumption, allowing businesses to secure stable energy pricing while lowering carbon emissions.
Financing
This transaction builds on an existing relationship between Alight and SEB. In March 2025, SEB invested approximately £102.3 million to support the acquisition of a 215MW agriPV project in Denmark. That project reached commissioning in December and represented one of the larger agricultural solar developments in the region.
The latest £34 million facility reflects SEB’s continued appetite for renewable infrastructure assets with contracted revenues. For Alight, the financing provides the capital required to accelerate deployment without relying solely on equity funding, supporting its growth strategy in the UK market.
By securing project finance at portfolio level, Alight can streamline construction timelines and scale its commercial solar offering more efficiently. This approach has become increasingly common as lenders grow more comfortable with corporate PPAs and behind-the-meter structures.
Market
The UK solar market has expanded steadily in recent years, though growth has been uneven across segments. According to data from Solar Media Market Research, residential rooftop solar accounted for 18% of the UK’s operational solar capacity in 2025, representing a 25% year-on-year increase. In contrast, commercial rooftop solar made up just 12% of operational capacity.
This imbalance highlights the potential for further growth in the commercial and industrial sector. Rising electricity prices, corporate net-zero commitments, and grid constraints are pushing more businesses to explore on-site generation options.
Alight’s focus on behind-the-meter projects aligns with these trends. By supplying power directly to commercial customers, such projects reduce exposure to wholesale market volatility and network charges, while also helping companies meet sustainability targets.
Strategy
Alight CEO Warran Campbell said the company is experiencing strong demand in the UK C&I market. He described the current period as one of rapid expansion, driven by both financial and environmental considerations among corporate customers.
According to Campbell, the new financing facility will allow Alight to scale up its UK operations more quickly and deliver projects to some of Europe’s largest companies operating in the UK. He also emphasised the role of behind-the-meter solar in supporting the broader energy transition.
The company believes that decentralised energy solutions can play a key role in addressing structural challenges within the UK electricity system. Grid connection delays and capacity shortages have become a significant barrier for large-scale renewable projects, particularly in parts of England with high demand growth.
Grid
Grid capacity constraints were a recurring theme at the recent Solar Finance and Investment Europe summit held in London by Solar Media. Industry speakers highlighted the need for optimisation rather than relying solely on new grid infrastructure, which can take years to deliver.
Technologies such as behind-the-meter solar and battery energy storage systems were frequently cited as practical solutions. By generating and consuming electricity locally, these systems reduce pressure on transmission and distribution networks while improving energy resilience for end users.
Alight noted that its behind-the-meter portfolio is designed specifically to address these issues. By avoiding grid export where possible, the projects can be deployed faster and provide immediate benefits to offtakers, particularly energy-intensive commercial and industrial sites.
Outlook
The £34 million financing marks another step in Alight’s expansion within the UK renewable energy market. With corporate demand for clean power continuing to grow and grid constraints becoming more pronounced, behind-the-meter solar is expected to play an increasingly important role.
If successfully delivered, the 50MW portfolio could serve as a template for future commercial solar developments in the UK. For lenders, developers, and corporate energy users alike, such projects offer a practical route to decarbonisation while navigating the limitations of existing grid infrastructure.
FAQs
Who is financing Alight’s UK solar portfolio?
The financing is provided by Nordic financial group SEB.
How large is the UK solar portfolio?
The portfolio will exceed 50MW of installed capacity.
What type of solar projects are involved?
Behind-the-meter commercial and industrial solar PV projects.
When will the projects be commissioned?
Alight expects completion by the end of 2027.
