The agreement covers eight plants at different locations across the South and South West of England that have been built under the Renewables Obligation (RO) subsidy regime.

The refinanced plants include Lovedean (4.5MW), Ninnis (3.9MW), Rudge Manor (6.4MW), Hatchlands (5.2MW), Parkhouse (6.6MW), Shipton Bellinger (5.4MW), Tregassow (5.9MW) and Chittering 2 (6.3MW).

Lightsource finance director Paul McCartie said closing of the project financing deals swiftly is a testament to the diligence of the company’s in-house capability satisfying funder’s requirements.

"RBS has proven to be an exceptional, supportive partner and we have appreciated its strong market knowledge and commitment," added McCartie.

RBS energy, structured finance head Andrew Buglass said the company is supporting the project which represents a significant deal for Royal Bank of Scotland, and further endorses the expertise of its team.

"We highly value the relationship developed with Lightsource through this transaction and earlier financings under the Feed in Tariff regime.

"We have a pipeline of deals in the project finance UK solar space that we are currently working on including further larger scale projects under the Renewables Obligation," added Buglass.

The company currently has an operational portfolio of 327MWp, which is enough to power over 100,000 UK households.