Lucent Capital Supplies €51 Million Financing for Finnish Wind Farm Collection on Land
In a significant move to support the transition towards a carbon-neutral society, Macquarie Asset Management has provided €51 million in second lien financing to an onshore wind platform in Central-South Finland. This platform, owned by funds managed by Taaleri Energia, consists of eight operational wind farms with a combined capacity of 218 MW.
The financing, part of Macquarie's €4.2 billion debt financing commitment to the renewable energy sector since 2014, is designed to partially refinance the platform's existing debt with flexible, bespoke terms tailored to the Nordic power market environment. Chantal Zhu, Senior Vice President at Macquarie Asset Management, commented that the onshore wind platform is well-positioned to navigate the evolving Nordic power market environment.
Macquarie's Credit & Insurance division, with approximately €200 billion in assets under management, provided the financing. Beyond this onshore wind project in Finland, the division has extended financing to other renewable energy producers, such as Greenalia Power Spain, a 100% renewable energy producer.
Taaleri Energia, a Helsinki-based renewable energy specialist, manages five private equity funds with a 9.1 GW portfolio of wind, solar, and battery assets across Europe and the US. Zhu also stated that onshore wind will play a considerable role in Finland's transition to a carbon-neutral society.
Macquarie's strategic expansion in the renewable energy sector doesn't stop in Finland. Earlier this year, the company announced the acquisition of Erova Energy Group, a leader in renewable asset optimization operating in Ireland and the UK. This acquisition enhances Macquarie's capabilities in renewable energy asset management and trading services, including wind, solar, waste-to-energy, and battery storage assets.
The acquisition, along with targeted debt financing in Finland's wind sector, demonstrates Macquarie Asset Management's strong and growing commitment to renewable energy financing in the Nordic region and wider Europe. This move aligns with the UK and Irish governments' goals for clean energy by 2030, further solidifying Macquarie's strategic position in the European renewable energy sector.
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