Green hydrogen developer Lhyfe has successfully closed a €28m financing package with its banking partners.
This bank financing package consists of a €22.2m green syndicated bank loan, indexed to Euribor, with a 5-year maturity and a bullet repayment.
The green facility agreement was structured by Crédit Agricole Group, and supported by BPCE Group, HSBC and Crédit Mutuel Océan.
It includes a clause to increase the amount, which is valid for two years.
It also includes two fixed-rate financing lines granted by Bpifrance for a total of €5.8m, with 8 years and 15 years maturities.
Building on its strong commercial portfolio, Lhyfe aims at becoming one of the leaders in the production of green hydrogen in Europe, by deploying green hydrogen sites to decarbonize industry and mobility.
By 2025, Lhyfe’s ambition is to be a major player for bulk green hydrogen production both in France and Germany.
With two new up to 2 tonnes/day production sites inaugurated in France this month and 5 additional sites currently under construction mainly in France and Germany, the industrial scale-up is underway.
Maria Pardo Saleme, Lhyfe’s chief financial officer, said: “We are very proud to have arranged this first syndicated green financing for Lhyfe, which becomes the first green and renewable hydrogen player in France to sign such a deal.
“In the nascent industry of large-scale green hydrogen production, this financing reflects the support and trust of our banking partners in Lhyfe’s strategy and ambitions, at a time when the industrial scale-up is accelerating.
“It will enable Lhyfe to go on implementing its strategy of developing, constructing and operating production units, and paves the way for its becoming a leading player in the renewable hydrogen production space.”