MaxSolar secures 410 million euros to finance 2 GW of solar power projects over the next 5 years
- The financing facility will enable MaxSolar to continue its strong growth trajectory and further expand its market share as a large independent renewable energy producer in the German market.
- The latest financing will enable the further development and implementation of the company's current 6.5 GW solar project pipeline
Traunstein, Germany, 14 July 2023
MaxSolar GmbH, a leading project developer of integrated renewable energy solutions and EPC service provider for photovoltaic systems in Germany and Austria, today announced the raising of a EUR 410 million financing facility with leading global institutional investors Infranity, I Squared Capital and Rivage Investment. The first tranche of the financing facility comprises EUR 165 million and can be extended with a second tranche of EUR 245 million. The company plans to realize photovoltaic and ground-mounted storage projects with a capacity of 2 GW from its project pipeline of around 6.5 GW in total over the next five years.
In addition, the capital will be used to expand projects and develop strategic growth opportunities. The facility will also be used to expand MaxSolar's capabilities along the entire project development value chain, including the recruitment of new talent at MaxSolar's five locations in Germany.
Christoph Strasser, CEO of MaxSolar: "We are delighted to be working with partners who share our vision of driving the energy transition in Europe. The new financing will play an important role in our next phase of growth. I would also like to thank our exceptional team, whose dedication and remarkable ambition have made this step possible."
Stefan Rattensperger, Investment Executive Director at Infranity: "MaxSolar has grown rapidly in recent years. We are proud to support a leading project developer and such a highly innovative company that shares our common values and strategic vision of a green energy transition on its future growth path."
David Rosenblum, Infrastructure Credit Fund Partner at I Squared Capital: "We strongly believe in MaxSolar's ambitious goals on the path to the energy transition. As committed partners, we are excited to play a role in this journey and contribute to their continued success in shaping a sustainable future."
Stéphanie Charlet, Investment Director at Rivage Investment: "Our investment strategy is increasingly focused on making a positive contribution to the energy transition. MaxSolar's vision is in line with ours, so our partnership fits perfectly with our sustainable investment policy."
Jérôme Turcotte Routhier, Managing Partner of shareholder Nature Infrastructure Capital: "MaxSolar is rapidly becoming one of Germany's leading renewable energy project developers and EPC service providers for photovoltaic and ground-mounted systems. Securing EUR 410 million in financing from renowned and experienced partners underpins the company's strategy to build an extensive portfolio of clean and affordable power generation for municipalities and citizens in Germany."
João Manso Neto, CEO of shareholder Greenvolt: "This milestone not only advances the European energy transition, but also promotes energy sovereignty. The availability of affordable, reliable and sustainable energy is crucial to our goals. As shareholders, we are pleased that the financing provides the necessary funds to support the realization of MaxSolar's projects."
Akereos Capital acted as financial advisor to MaxSolar. MaxSolar was advised on legal matters by Reed Smith and the lenders by Watson Farley & Williams.
About I Squared Capital
I Squared Capital is an independent global infrastructure manager focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 220 professionals across its offices in Miami, Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 77 companies in 59 countries with over 31,000 employees across the utilities, energy, digital infrastructure, transportation, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.
https://www.isquaredcapital.com/
About Infranity
Infranity is an asset management company specializing in sustainable infrastructure investments. The company was founded by three partners, Philippe Benaroya, Alban de La Selle and Gilles Lengaigne, as part of a strategic partnership with the Generali Group and manages €8.3 billion of assets under management on behalf of institutional investors (as of June 30th, 2023). The investment solutions deployed by Infranity are based on the resilience of the asset class and its returns over the long term, as well as its ability to contribute to sustainable development. They seek to respond to the major challenges facing society, such as the energy transition, green mobility, the digital transition and the improvement of social infrastructure in the health and education sectors. This positioning, combined with a high degree of selectivity in the investment process, enables Infranity to generate sustainable value for its professional clients. Infranity ranked globally #7 and #3 in Europe in the Infrastructure Investor Debt report released on March 6th, 2023[1]. Please refer to the Infrastructure Debt 30 ranking published by Infrastructure Investor for more details. Infranity is part of the Generali Investments' ecosystem of asset management firms, and a key component of Generali's capabilities in real assets.
About Rivage Investment
Rivage Investment is an independent asset manager with c. €8 billion under management. Rivage Investment is a leading actor in the financing of European infrastructures. Our funds finance infrastructure, the public sector, energy transition and decarbonization through different private debt strategies with different risk/return profiles and maturities from long term financing to bridge financing for portfolios of renewable energy projects under development. For the last 10 years Rivage Investment has been providing over 125 financings across various infrastructure sub-sectors and countries in Europe. Rivage Investment contributes to the development of sustainable and responsible assets with a commitment to support the Paris Agreement Goals. In 2023, Rivage Investment has undertaken to set ambitious targets for its infrastructure debt funds and contribute to the collective efforts to reach global climate goals.
https://www.rivageinvestment.com/en/
About Nature Infrastructure Capital
Nature Infrastructure Capital (NIC) is a sector-focused private equity firm committed to the global energy transition. NIC is an active investor in all areas of the energy transition - renewable energy and distributed generation platforms, storage solutions, advanced transportation, energy management and efficiency, and green hydrogen. NIC has a long-term investment mandate and is committed to investing in partnerships with leading companies in its core areas, taking an approach that creates value for stakeholders, citizens and communities.
About GreenVolt
GreenVolt is a renewable energy company listed on Euronext Lisboa and a member of the PSI20 benchmark index. The company operates in three business areas: Power generation from residual biomass, where it holds a leading position in Europe; traditional solar and wind power plants for large-scale renewable energy development with a pipeline of around 6 GW; and distributed energy generation. Greenvolt is present in 11 European countries and in the USA.
About MaxSolar
MaxSolar is a leading provider of integrated, innovative energy solutions for companies and municipalities. Headquartered in Traunstein, the company, which was founded in 2009, now has more than 210 employees at five locations throughout Germany. With the meineWärme, esolution and Energy Partners brands, MaxSolar's portfolio includes the planning, installation and operation of photovoltaic systems, energy storage systems, charging infrastructure as well as wind and heating solutions in integrated systems. The company's current project pipeline currently comprises over 6.5 GW in various stages of development.
www.maxsolar.com
Press contact MaxSolar GmbH
Franziska Straßer
Marketing & Communications
Phone: +49 861 21396 787
E-mail: marketing(at)maxsolar.de
1. any reference to an award provides no guarantee for future performance and is not constant over time.
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