AMP Capital lends €245m of mezzanine debt to renewable energy provider

Related Asset Managers

AMP Capital is providing €245m of mezzanine debt to France-based renewable energy provider Neoen.

The investment is being made for AMP Capital Infrastructure Debt Fund III, for which the company raised US$4.1bn in commitments and co-investment capital.

The Australian fund manager said the loan will provide financing for secured construction projects for a global 1.6GW portfolio of onshore wind and solar photovoltaic assets, located predominately in France and Australia.

Neoen is headquartered in Paris and active across the renewables space including solar and wind, and currently operates in ten countries including France, Australia, Mexico and Argentina.

Emma Haight-Cheng, partner in the infrastructure debt team at AMP Capital, said: “Given the drive for decarbonisation in developed markets, renewable energy is an important investment theme for us.”

The investment will sit within AMP Capital Infrastructure Debt Fund III (IDF III), which closed to new investors in August  after reaching its hard cap of US$2.5bn and securing an additional US$1.6bn for co-investment and other commitments as part of the fundraise, Haight-Cheng said.

“The portfolio we are funding represents a unique business, by virtue of its scale, geographic and technological diversification as well as the expertise within Neoen underlying its development,” Haight-Cheng said.

”France and Australia account for more than 80% of the portfolio, representing robust, stable energy markets with transparent regulatory regimes and a history of support for renewable energy.

”We view the investment as offering robust and highly attractive risk-adjusted returns,” Haight-Cheng added.

 

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

  • QN-2582

    Asset class: Emerging Market Corporate Debt Hard Currency Investment Grade.
    Asset region: Emerging Markets.
    Size: USD 40 – 60 m.
    Closing date: 2020-01-07.

Begin Your Search Now