German-based renewable energy developer MaxSolar recently negotiated a €410 million (US$460 million) financing deal that will go towards the construction of a 2GW of solar PV and co-located storage facilities over a five-year period.
The funding arrangement will be divided into two tranches of €165 million and €245 million.
It has been funded by three institutional investors, including the US’s I Squared Capital and France’s Infranity and Rivage Investment.
MaxSolar, which is a nationwide provider of O&M, asset management, and technical services for distributed solar photovoltaic, EV charging, and energy storage systems, has also secured the financing to accelerate its ambition to be a large independent power producer of renewable electricity.
“MaxSolar is rapidly becoming one of the leading German project developers for renewable energies and EPC service provider for photovoltaic and ground-mounted systems. Securing €410m in financing from well-known 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,” said Jérôme Routhier, a partner at MaxSolar shareholder Nature Infrastructure Capital.
Aside from investing towards the construction of 2GW of solar PV and co-located storage, the financing facility will offer the German developer inorganic growth, facilitating the expansion of MaxSolar’s project development capabilities and recruiting more international and local talent across its five locations in Germany.
“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,” said Christoph Strasser the Chief Executive of MaxSolar.
MaxSolar, founded in 2009, provides integrated systems for the planning, construction, and operation of solar systems, energy storage systems, and charging infrastructure, as well as wind and heating systems.