Kyotherm has secured a €200m debt facility from Allianz Global Investors (AllianzGI) to fund its €120m acquisition of a 155MW portfolio from SDCL Efficiency Income Trust (SEIT), while also refinancing the majority of its existing assets and funding future projects.
The InfraVia-owned renewable heat and energy efficiency firm has acquired SEIT’s 11 operational projects across the US, UK, Ireland, Portugal, Sweden and Singapore.
The transaction increases Kyotherm’s total consolidated capacity to 414MW and comprises assets across the biomass, geothermal, cogeneration and energy savings sectors.
The multi-currency debt facility with AllianzGI will be used to refinance selected existing projects and support future project financing and acquisition.
Thibault Chevallier, CFO at Kyotherm, said: “This debt facility will further increase our capacity to finance or acquire projects without having to structure dedicated financing packages, increasing significantly execution speed and competitiveness.”
François-Yves Gaudeul, infrastructure debt lead portfolio manager – managing director at Allianz Global Investors, said: “We are pleased to support Kyotherm with this landmark flexible multi-currency debt facility that will accompany the company in its growth. Besides, this transaction allows our investors to conduct another attractive investment in the renewable and energy efficiency sectors.”
Arnaud Susplugas, CEO of Kyotherm, said: “This transaction is more than just an increase in capacity; it is a testament to our ability to execute complex, international transactions that provide decarbonisation impact.
“We are strengthening our international footprint to better serve our global partners with long-term, reliable financing solutions. We are building a scaled, world-class platform capable of deploying substantial investment to meet the urgent demand for energy efficiency and decarbonisation.“
Aymar de Tracy, partner at InfraVia, said: “Since InfraVia’s investment in 2024, Kyotherm has continued to develop its portfolio and this acquisition is a significant step in Kyotherm’s journey.
“We would like to congratulate the Kyotherm team for delivering this complex and value-add acquisition and innovative financing structure that further supports the build-up of a global platform in renewable heat and energy efficiency.”
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