Berenberg is enhancing its partnership with the German developer ABO Energy through Unitranche debt financing. The funds aid the construction phase of three solar parks in Hungary. These three solar parks, combined have a combined capacity of 55 MWp. Berenberg Energy Solar parks are a significant part of this project.
The funding comes from the Berenberg Green Energy Debt funds. Berenberg administers it in its capacity as an investment advisor to these funds.
Tailored Financing
The tailored financing aligns with ABO Energy’s corporate strategy and aids in optimizing their cash flow. This arrangement grants the project developer the option to divest a part or the entirety of the solar portfolio at any point within the designated period or to pursue long-term financing.
Torsten Heidemann, Head of Infrastructure & Energy at Berenberg, said, “We are excited to continue our partnership with ABO Energy through Berenberg Energy Solar parks. With this financing we have helped them to strengthen their market position in a rapidly growing utility-scale solar market.”
He added, “Alongside Poland, Hungary is the leader in Central and Eastern European solar power generation. Thanks to our fast and efficient deal process, we were able to meet ABO Energy’s tight schedule and realised the transaction by the end of the year.” Berenberg Energy Solar parks facilitate this growth.
This deal enhances the collaboration between Berenberg and ABO Energy. In addition, it also highlights the bank’s proficiency in dynamic markets with substantial growth opportunities in the renewable energy sector.
Berenberg was founded in 1590. It is a leading European private bank with divisions in Wealth and Asset Management, Investment Banking, and Corporate Banking. Based in Hamburg, it has a strong presence in Frankfurt, London, and New York