As part of the continued growth of Infram Energy, the company has closed the refinancing of 70 MW of grid connected assets in August 2019 followed by a second tranche of 7 MW in December 2019 for a total of €137 million. In addition to this long-term project financing facility, Infram Energy has also contracted a short term construction financing facility of €35 million to allow it to continue to fund its planned developments for 2020 and 2021.
Banks supporting the transaction included SaarLB, Crédit Agricole Unifergie and BPI France.
Infram Energy has a strong pipeline for renewable energy projects across Europe, and it is anticipated that the company will invest in c.100MW of projects per annum over the coming years.
Nik Roessner, Chairman of Infram Energy said:
“The company has been able to leverage its strong banking relationships in a very competitive debt market, closing a significant refinancing transaction. The new facilities position Infram Energy well to further expand on the renewables opportunity in Europe. This growth will primarily focus on the French PV market (mainland and overseas), with the company already having a sizeable number of assets in development”