JLL advises on Railpen's investment in renewable energy developer AGR Power

LONDON, 21 JUNE 2024 - JLL has provided commercial advisory services to Railway Pension Trustee Company Limited (“Railpen”) related to their equity investment in AGR Power Limited (“AGR”), supporting the build out of AGR’s utility scale solar, BESS and greenhouse projects across Europe.

Railpen is one of the largest pension managers in the UK and responsible for managing £34 billion of assets on behalf of over 350,000 members, with over £500m invested into UK energy infrastructure projects since 2019 including wind, solar, biomass and energy storage. AGR is a leading London-based renewable energy and sustainable infrastructure developer, over 55 projects totalling 1.1GW of installed renewable capacity.

Leveraging the combined regional expertise of its Energy & Infrastructure team across the UK and Italy, JLL collaborated with Railpen to provide support and transaction advisory services. This included conducting valuation and commercial due diligence for AGR's portfolio in both the UK and Italy. The transaction builds on JLL’s track record as one of the leading European financial advisors in the energy transition sector providing a range of corporate finance advisory services across Europe and in different technologies (e.g. PV, Wind, BESS, Hydrogen)

James Lythgoe, Associate Director, of JLL’s Energy & Infrastructure Advisory team, said, “The Pan-European JLL team is very proud to have contributed to this important transaction in the renewable energy sector, involving a mix of technologies and geographies. We look forward to seeing the projects being connected in the coming years”.