Australia-based global investment manager, AMP Capital has provided French independent power producer Neoen with €245 million in mezzanine financing.
AMP Capital stressed that the financing was validated as a green bond, following due diligence by Vigeo Eiris, a global provider of environmental, social and governance (ESG) research to investors and public and private corporates.
Neoen will use these funds for a 1.6 GW portfolio of onshore wind and solar photovoltaic assets, located mainly in France and Australia, AMP Capital said.
The investment is being made through AMP Capital Infrastructure Debt Fund III (IDF III), which closed to new investors in August 2017, after raising around $2.5 billion.
“Neoen’s international ambition and track record of success allows us to secure significant long-term financings, achieve economies of scale and join forces with leading investors such as AMP Capital,” said the company’s CEO Xavier Barbaro.
Neoen, which is active in several solar markets across the globe, has recently secured a PPA for 100 MW of solar in Australia and is teaming up with Tesla to install a 129 MWh lithium-ion battery in the country.
Popular content
The company is also active in Argentina, where it is planning to building a 200 MW solar plant, and in El Salvador, where it recently completed a 101 MW solar facility. Furthermore, in April it announced it was the main winner of the tender organized by the French government with 10 projects (86 MW) awarded in the CRE 4 programme.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.