Infram Energy has closed the final tranche of a €158m financing for its 70MW photovoltaics portfolio.
The final tranche comprises €123m in long-term financing facilities for its operational assets, comprising a mix of ground-mounted photovoltaics, as well as solar on agricultural barns and greenhouses in France.
The financing was led by Infram Energy’s shareholder, Amarenco.
The €158m financing commenced with the closure in February 2019 of a €35m revolving construction finance facility for Infram’s solar asset pipeline in France.
Infram Energy is a solar platform jointly owned by the UK infrastructure fund Infracapital and Amarenco.
Amarenco acts as principal management services provider to Infram Energy on all development, financing, construction and operational aspects of Infram Energy’s business.
Infram Energy was advised on the transaction by Finergreen acting as financial adviser, and LPA-CGR acting as legal adviser.
The long-term financing facilities were arranged jointly by Landesbank Saar and Credit Agricole Unifergie with BPIFrance Financement participating as co-lender.
The transaction has leveraged historically low interest rates in the debt market.
Infram energy now manages 125MW of operational and in-construction assets.