Dutch multinational banking and financial services firm ING has launched a Sustainable Investments fund, committing EUR100 million of capital to support sustainable ’scale-ups’ with a proven concept and a positive environmental impact. The OECD definition of a scale-up is a company with an average annualized return of at least 20% in the past 3 years with at least 10 employees in the beginning of the period.
Energy Finance & Investment News in Europe
DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) has acquired an equity interest of 10% in the Cibuk I wind farm in Serbia.
Veolia's plans to develop a new high efficiency Energy Recovery Facility (ERF) in Hertfordshire, in the south of the UK, have been approved by Hertfordshire County Council. It will generate up to 33.5 MW of electricity from 350,000 tonnes of potential residual waste (that cannot be reused, recycled or composted) produced in the county each year.
Taking advantage of the attractive market conditions, ENGIE has issued its first Green Hybrid Bond (Deeply Subordinated Perpetual Bond) for an amount of EUR1 billion (US$1.22 billion), with a coupon of 1.375% and a Non-Call period of 5.25 years.
Foresight Group LLP has announced the completion of the acquisition of an operational portfolio of two large scale Anaerobic Digestion (AD) plants and seven composting assets for an undisclosed sum. The sites are located across East Anglia and the East Midlands regions of the UK.
French renewable energy provider Neoen has obtained financing for the construction of a global 1.6 GW renewable energy portfolio, through issuing a junior green bond with a total value of EUR245 million (US$293 million). The bonds have been subscribed by AMP Capital, through its Infrastructure Debt Fund III (IDF III).
The Dutch Ministry of Economic Affairs and Climate Policy has held the country's first zero-subsidy offshore wind tender. The tender, described as a huge breakthrough by the Minister of Economic Affairs and Climate Policy, concerned sites I and II of the Hollandse Kust (Zuid) off-shore wind farm. It closed on 21 December 2017.
Blue Elephant Energy AG (BEE) has acquired a 50% stake in a 20 MW wind farm in Italy from European Energy, through its affiliate BEEGO IPP GmbH. BEE now own 100% of the project.
VALOREM group has announced the success of VASCO, an operation of legal and financial re-organisation of its green energy projects through the roll-over of its EUR180 million (US$216,48 million) senior debt.
The European Bank for Reconstruction and Development (EBRD) has provided a senior loan of EUR25 million (US$ 30,10 million) to PJSC Myronivsky Hliboproduct (MHP) for the construction and operation of a 10 MW biogas plant in Ukraine.
Eolus has signed an agreement with Aquila Capital regarding the sale of the wind farms Kråktorpet and Nylandsbergen, which collectively comprise 61 wind turbines with a combined installed capacity of 232 MW. The wind farms are located in Sundsvall, in the north-east of Sweden.
The European Bank for Reconstruction and Development (EBRD) has announced that it is providing a senior loan of up to US$100 million to a special purpose vehicle, fully owned by Entek Elektrik Uretimi A.S., for the acquisition of the operating rights for two hydropower plants: Menzelet (124 MW capacity) and Kılavuzlu (54 MW). The rights will be acquired from the Privatization Administration of Turkey.
ENGIE and Crédit Agricole Assurances have signed a new agreement to acquire nearly 500 MW of on-shore wind and solar power plants by the end of 2018 through their joint venture FEIH (Futures Energies Investissements Holding).
A consortium of eight international banks has signed a financing agreement for the Delimara 4 power plant project in Malta. The consortium is comprised of Bank of Valletta, BNP Paribas Fortis, Credit Industriel et Commercial, DZ Bank AG, HSBC Bank Malta, KFW-IPEX Bank, Natixis Bank and Societe General. The package amounts to EUR450 million (US$540 million).
Vattenfall has announced that it has agreed to will supply 1.5 TWh of electricity annually to AkzoNobel in the Netherlands. The new agreement concerns AkzoNobel’s chemical production sites in Delfzijl, Hengelo and Rotterdam.
After nine months of fundraising, Copenhagen Infrastructure Partners’ (CIP) new fund, Copenhagen Infrastructure III (CI III), has had its sixth close on December 27, 2017 with total commitments reaching EUR2.8 billion (US$3.32 billion).
OX2 has announced that the financing of Valhalla project comprising 85 wind turbines has been successfully completed. Aquila Capital will acquire the project which OX2 will deliver as an EPC contract. It will be one of the largest onshore wind farms in Europe.
BASF and LetterOne have signed a letter of intent to merge their respective oil and gas businesses in a joint venture, which would operate under the name Wintershall DEA.
Allianz Capital Partners (ACP), Macquarie Infrastructure and Real Assets (MIRA) and Valtion Eläkerahasto (VER) have signed an agreement to acquire Elenia Oy, Finland’s second largest power distribution system operator and Elenia Lämpö Oy, Finland’s ninth largest district heating network.
The Allianz Group has announced that from 1 January 2018, Allianz Capital Partners (ACP) will become a discrete entity under the umbrella of Allianz Global Investors (AllianzGI).