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Aukera Renewables, Storage Investor Secures $534 Million Credit Facility

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Brussels-based European battery storage and renewables investment platform Aukera has closed a 460 million euro ($533.9 million) structured credit facility with EIG the lead investor, it said in a statement on Thursday.

The investment platform is backed by AtlasInvest, Reggeborgh, and Belgian sovereign wealth fund SFPIM.

Aukera will deploy the capital through a "significant European energy infrastructure platform" which will build and operate assets.

The original facility was 200 million euros with an accordion feature of up to 250 million, the latter of which has now been converted into a firm 260 million euro Series 2 tranche commitment, Aukera said.

The capital will be used on renewables, battery storage and energy infrastructure projects in five European markets - Belgium, the UK, Germany, Romania and Italy, adding to a 1 GW portfolio under construction or operating in all Aukera markets.

The company has a 14 gigawatt development pipeline of renewables and energy infrastructure across Europe.

Co-founders Catalin Breaban and Pascal Emsens said Europe needs to "at least quadruple its battery storage capacity" to reach the EU's 200 GW target by 2030, requiring both capital and execution capability.

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Commodities

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Commodities

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