German wind and solar developer Saxovent Group has secured EUR 70 million (USD 74.0m) for a planned 183-MW portfolio of wind projects in Germany and France.
The fresh funds come in the form of mezzanine financing with a maturity of up to 22 years secured from asset and investment manager HANSAINVEST Real Assets.
The portfolio includes ten planned wind parks in Germany and France, Saxovent said on Wednesday.
The developer will use HANSAINVEST’s financing commitment, along with French resources, to develop additional wind and solar parks as well as rooftop systems.
The partnership with Saxovent marks HANSAINVEST’s entry into the French market.
The agreement bolsters Saxovent, which invests also in real estate and agriculture, by enhancing its liquidity and strengthening its position as an independent power producer (IPP).
(EUR 1 = USD 1.057)