MaxSolar Invests Euro 410 Million Financing Facility to Install 2 GW of Solar and Storage Projects in Germany
The company aims to construct 2 GW of solar PV and co-located storage projects from its project pipeline of around 6.5 GW over the subsequent five years.
July 15, 2023. By EI News Network
MaxSolar declared the implementation of a Euro 410 million debt finance facility with global institutional investors Infranity, I Squared Capital, and Rivage Investment.
The financing facility includes an initial committed tranche of Euro 165 million and includes a second tranche that will expand the size of the facility by an additional Euro 245 million.
The financing is expected to expedite MaxSolar’s aim to be a large independent power producer of renewable electricity.
The company aims to construct 2 GW of solar PV and co-located storage projects from its project pipeline of around 6.5 GW over the subsequent five years.
The proceeds from this facility, together with project-level senior financing, will be used to support capital investments in solar PV and co-located storage projects.
Furthermore, the facility offers the flexibility to deploy capital towards inorganic growth opportunities and project development expenditures.
Christoph Strasser, CEO of MaxSolar, said, “We are thrilled to collaborate with like-minded partners who share our vision of accelerating Europe’s energy transition. The financing facility will play a significant role in enabling our next growth phase by helping us materially scale our offering. I would also like to express my deepest gratitude to our exceptional team, whose dedication and remarkable spirit have made this financing facility possible.”
David Rosenblum, Infrastructure Credit Fund Partner at I Squared Capital, added, "We firmly believe in MaxSolar's ambitious drive towards energy transition. As dedicated partners, we are excited to play a role in their journey and contribute to their continued success in shaping a sustainable future.”
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