Sunsave: Launches UK's First Solar Subscription with TLT's Guidance
Deal News | Aug 05, 2025 | TLT
National law firm TLT has provided extensive advisory services to Sunsave, a fast-growing UK startup, in the launch of the UK's first solar subscription service, Sunsave Plus. The service aims to make solar power accessible to all UK households. Since its launch in January 2024, Sunsave has reported more than a 32% month-on-month growth, securing its position as the 14th fastest-growing UK startup. In July, Sunsave raised £113 million, comprising £13m in Series A equity funding led by Norrsken VC and IPGL, and a £100m debt facility from Crédit Agricole CIB. TLT's role included the development of various documentation for Sunsave Plus' roll-out, due diligence for fundraising, and structuring a bankable setup. Moreover, TLT advised on Sunsave's partnership with Hive, which aims to increase customer access. The advisory team was spearheaded by Michael Kruger, supported by a multidisciplinary team. The collaboration aids in scaling up Sunsave's pioneering project intended to boost solar energy usage across England and Wales.
Sectors
- Renewable Energy
- Legal Services
- Financial Services
Geography
- United Kingdom – The entire project, from the solar subscription roll-out to the advisory services, is centered in the UK, particularly focusing on England and Wales.
Industry
- Renewable Energy – The article focuses on the roll-out of Sunsave Plus, a solar energy subscription service aimed at increasing solar power usage among UK households.
- Legal Services – TLT, a national law firm, provided legal advisory services for the development of Sunsave Plus, highlighting the involvement of the legal sector in renewable energy projects.
- Financial Services – The article discusses significant financial transactions, including equity funding and debt facilities involving Sunsave, necessitating legal and financial structuring advice.
Financials
- 113 million – Total funding raised by Sunsave in July 2024, including Series A equity funding and a debt facility.
- 13 million – Amount raised in Series A equity funding co-led by Norrsken VC and IPGL.
- 100 million – Debt facility provided by Crédit Agricole CIB.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sunsave | Target Company | Company | A UK-based company offering Sunsave Plus, the first solar subscription service in the UK, to increase solar accessibility. |
| TLT | Legal Advisor | Company | A national law firm providing comprehensive legal advisory services for Sunsave's solar subscription rollout. |
| Norrsken VC | Equity Investor | Company | One of the co-leads for the Series A equity funding round for Sunsave. |
| IPGL | Equity Investor | Company | Co-lead for the Series A equity funding for Sunsave. |
| Crédit Agricole CIB | Lender | Company | Provided a £100 million debt facility to Sunsave. |
| Hive | Commercial Partner | Company | Partnering with Sunsave to promote Sunsave Plus to a broader customer base. |
| Michael Kruger | Banking and Future Energy Partner at TLT | Person | Led TLT's advisory team on the Sunsave project. |
| Ben Graves | Co-founder and COO of Sunsave | Person | Commented on the importance of TLT's work in the successful expansion of Sunsave Plus. |