NEWS & INSIGHTS
European IPP Aukera Secures €450 Million Financing Facility From EIG
Provides Significant Capital to Construct Over 1.5 GW of Solar, Wind and Co-Located Battery Storage Assets in Europe by 2026
Brussels, Belgium and Washington D.C. – Aukera BV (“Aukera”), the pan-European renewable energy developer and independent power producer (“IPP”) majority owned by AtlasInvest, today announced the signing of a €450 million structured credit facility (the “Facility”) with EIG, a leading institutional investor in the global energy and infrastructure sectors.
The Facility comprises an initial tranche of €200 million and includes an accordion feature to increase the loan amount by an additional €250 million. Together with project-level senior debt financing, the Facility will support Aukera’s plans to construct more than 1.5 GW of solar, wind and co-located battery storage projects by the end of 2026 in the UK, Germany, Italy and Romania.
In addition to providing construction equity for Aukera’s existing pipeline of projects, loan proceeds from the Facility will be used to fund acquisitions of third-party projects. Aukera’s initial focus will be on acquiring ready-to-build solar and wind projects in Germany, Italy and the UK. Aukera will also continue to seek new co-development partners for earlier stage development projects.
Rob Johnson, Managing Director and Global Head of Direct Lending at EIG, said, “We are delighted to support Aukera with this new Facility as they work to establish themselves as a leading European clean energy IPP. This transaction is a testament to our confidence in Aukera’s talented management team and its growth strategy, as well as AtlasInvest’s impressive track record of investment in renewable energy assets. The Facility also underscores EIG’s commitment to investing in high-quality assets and energy infrastructure that support decarbonisation and help advance the energy transition.”
Catalin Breaban (Co-Founder) and Simon Robinson (Head of Investments) at Aukera said, “Since it was founded in 2021, Aukera has grown rapidly to a team of over 60 people with offices in five European countries. Our new partnership with EIG, which follows our successful equity raise announced in September 2023, will enable the company to continue its impressive growth trajectory by funding the construction of the most advanced projects in our pipeline as well as making selective acquisitions. We are very much looking forward to working closely with EIG during the coming years to deliver our vision.”
Akereos Capital acted as sole bookrunner, structurer and exclusive debt advisor to Aukera. Allen & Overy served as legal advisor to Aukera, and Milbank served as EIG’s legal advisor.
EIG is a leading institutional investor in the global energy and infrastructure sectors with $23.0 billion under management as of September 30, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $45.9 billion to the energy sector through over 400 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
Aukera was founded in 2021 by experienced renewable energy executives Pascal Emsens and Catalin Breaban and focuses on the development, construction and operation of solar, wind and battery storage projects. It is currently developing a pipeline of 11.5 GW and expects to have over 1.5 GW in construction or operation by 2026. Aukera is headquartered in Brussels and has offices in London, Edinburgh, Berlin, Rome and Bucharest. Further information can be found on Aukera’s website www.aukera.energy.
AtlasInvest is a globally respected energy investor founded by Marcel van Poecke in 2007. Since its inception, AtlasInvest has successfully acquired and sold energy companies operating in both conventional and renewable energy. Further information about AtlasInvest can be found at www.atlasinvest.be.
|Kelly Kimberly / Brandon Messina
|+44 (0) 20 3882 5875