Corran Capital, an Edinburgh, Scotland, UK-based clean energy private equity firm, raised £80M for Corran II, its second fund.
Investors in Corran II include US fund Lexington Partners, Strathclyde Pension Fund’s Direct Impact Fund and SSE plc.
Led by Gary Le Sueur, founding partner, Corran Capital is a specialist private equity firm which backs entrepreneurs from across the clean energy and environmental sectors.
The firm has invested part of the funding to acquire a 30% stake in Vital Energi, a UK based heat infrastructure and energy efficiency business, from Scottish Equity Partners (SEP).
Corran previously invested in Renewco Power, the solar, wind and battery storage company it formed in 2021 with the support of SSE plc. The FTSE 100 clean energy company committed £48M to its first fund. Renewco Power, based in Glasgow and now with 38 employees, has developed a pipeline of renewable power project opportunities across the UK, Spain, Italy and the US in the three years since it was formed.
The clean energy private equity firm is also looking to make further selective investments in the renewable heat sector and sustainability-focused growth stage companies across the UK.
The firm has appointed Lucy Graham as a partner and Andy Low as COO.
FinSMEs
05/03/2024