MaxSolar has executed a €410m debt finance facility with global institutional investors Infranity, I Squared Capital, and Rivage Investment.
The deal comprises an initial committed tranche of €165m and includes a second tranche that will expand the size of the facility by an additional €245m.
The financing is expected to accelerate MaxSolar’s ambition to be a large independent power producer of renewable electricity.
The company aims to construct 2GW of solar PV and co-located storage sites from its pipeline of approximately 6.5GW over the next five years.
The proceeds from this facility, together with project-level senior financing, will be used to support capital investments in solar PV and co-located storage plants. Furthermore, the facility offers the flexibility to deploy capital towards inorganic growth opportunities and project development expenditures.
It will also facilitate the expansion of MaxSolar’s project development capabilities, including the recruitment of new international and local talent across its five locations in Germany.
MaxSolar chief executive Christoph Strasser said: “We are thrilled to collaborate with like-minded partners who share our vision of accelerating Europe’s energy transition. The financing facility will play a significant role in enabling our next growth phase by helping us materially scale our offering. I would also like to express my deepest gratitude to our exceptional team, whose dedication and remarkable spirit have made this financing facility possible.”
Infranity investment executive director Stefan Rattensperger added: “MaxSolar has grown rapidly in recent years. We are proud to support a leading developer and highly innovative company that shares our common values and strategic views of a green energy transition through its future growth path.”