French asset manager Acofi Gestion has provided €12.5m to refinance five wind farms developed by Valorem in the north of the country.
Acofi´s fund Predirect EnR 2030 has issued 12-year bonds that will allow the developer to refinance part of the equity of the unnamed wind farms, legal advisors Watson Farley & Williams said.
The issue will also allow the French developer to continue to expand in France and abroad, the law firm said.
The transaction is the first carried out by the euro bond fund, which is dedicated to renewable energy infrastructure investment.
The fund currently has €45m at its disposal to support wind and solar energy companies.
Image: MorgueFile
