Ireland-headquartered renewables producer Alternus Energy has signed a deal with Deutsche Bank for a project financing facility of up to €500 million (~$532.3 million).
An initial draw of €80 million (~$85.1 million) has also been approved. The company will use the proceeds to acquire solar photovoltaic assets, both operating and under-construction projects, in Europe.
The company said it will also use the capital to finance the construction of up to 600 MW of the development pipeline on a revolving basis, bolstering Alternus’s planned growth strategy through 2025. It will also support the closure of the company’s current contracted acquisitions.
Deutsche Bank will also serve as lead arranger in the syndication of the remaining facility as and when projects are submitted for approval.The facility will help Alternus expand its current annual recurring revenues to over…
Alternus Secures €500 Million Facility to Expand Clean Energy Business
