TLT advises FCA-authorised Sunsave on the roll-out of the UK’s first solar subscription

National law firm TLT has advised FCA-authorised Sunsave on the roll-out of Sunsave Plus - the UK’s first solar subscription service – across England and Wales. 

Sunsave was founded in 2022, with the mission to make solar power accessible to all UK households by launching the UK’s first solar subscription. It was named 14th fastest-growing UK startup by Sifted earlier this year and has grown over 32% month-on-month since launching its subscription service, Sunsave Plus, in January 2024. 

The company also raised £113 million in July comprising £13m in Series A equity funding co-led by Norrsken VC and IPGL, alongside a £100m debt facility from Crédit Agricole CIB. 

TLT has advised on the development of consumer loan, installation and maintenance and monitoring documentation for the roll-out of Sunsave Plus, and prepared due diligence for its fundraising process and for the lender (Credit Agricole) as well as advising on the structuring of a bankable setup enabling them to raise funding.  

TLT has also supported Sunsave on the formation of its partnership with Hive - a leader in advanced eco-tech solutions - under which Hive will promote Sunsave Plus to its customer base, driving access to more customers and helping grow Sunsave's business.   

The firm is also providing ongoing support with financial services regulatory matters as Sunsave Plus continues to scale up.  

The team was led by Banking and Future Energy Partner Michael Kruger, with support from Projects, Infrastructure and Construction (PIC) Partner Nick Pincott and Senior Associates Greg Pringle and Natasha Sanson. The deal also required cross-practice expertise from Amanda Hulme, Ben Cooper, Catherine MacPherson, Meghan Millward, Richard Clark and Sam Omozusi in the Financial Services Regulatory (FSR) team and Matt Atkinson in the Contracts and Procurements Team.  

Michael Kruger, Banking and Future Energy Partner at TLT said: “It was a pleasure to work alongside Sunsave and to be part of the scaling up of a first-of-its-kind service, with the potential to supercharge the UK’s solar energy generation, and provide affordable, clean electricity to hundreds of homes.”  

Ben Graves, co-founder and COO at Sunsave added: “The rollout of Sunsave Plus is accelerating and providing clean electricity and energy bill relief to a growing number of customers. TLT’s excellent work has been an important factor in facilitating this expansion - the team’s knowledge has shone through at every stage, and their diligence and hard work has enabled us to proceed with confidence. We are hugely grateful for their support.”