Augusta secures a c.€220m debt package for Neoen with access to merchant price upside

Augusta & Co is delighted to have acted as exclusive financial adviser to Neoen, a leading French independent producer of renewable energy, in raising senior debt financing for the construction of a 203MW onshore wind portfolio in Finland. The portfolio, located in Southern Finland, comprises three assets (Björkliden, Lumivaara and Storbötet) that are all contracted under corporate PPAs.

The multiple-facilities debt package of c. €220m  has been arranged with Danske Bank, a Danish bank increasingly focusing on infrastructure and energy financing and La Banque Postale, one of the largest commercial banks in France. One institutional debt investor, LBP Asset Management, is also participating in the financing alongside the commercial banks.

Augusta acted as exclusive financial adviser to Neoen and provided full-scope debt advisory services.

Romane Guitard, Managing Director at Augusta & Co, commented: “We were pleased to support Neoen in structuring such an amenable debt financing for the portfolio, a key milestone in their ambitious development plan in the Nordics.

This transaction confirms the appetite of renewable lenders for partially merchant exposure in the Nordics notwithstanding recent power price volatility. The expertise and reputation of Neoen was instrumental in securing competitive terms while maintaining the required flexibility to withstand future power market volatility when needed.

It has been a real pleasure to work with such a professional and sophisticated team on this financing process.”

Romane Guitard