MaxSolar has secured €410m financing from Infranity, I Squared Capital and Rivage Investment to help develop and expand the German renewable energy developer’s solar project pipeline.

The three institutions have committed an initial €165m as well as a second tranche financing that will expand the size of the facility by an additional €245m.

MaxSolar said the loan enables it to continue on its growth path to be a large independent power producer of renewable electricity in the German market. The company intends to construct 2GW of solar photovoltaics and co-located storage projects from its 6.5GW project pipeline over the next five years.

Christoph Strasser, CEO of MaxSolar, said: “The financing facility will play a significant role in enabling our next growth phase by helping us materially scale our offering.”

Stefan Rattensperger, investment executive director at Infranity, said: “Infranity is a committed and very experienced actor in the renewable energy sector in Europe. We are pleased to support the growth of our partner MaxSolar, a company that shares our common values and strategic views of a green energy transition through its dynamic growth path.”

David Rosenblum, infrastructure credit fund partner at I Squared Capital, said: “We firmly believe in MaxSolar’s ambitious drive towards energy transition. As dedicated partners, we are excited to play a role in their journey and contribute to their continued success in shaping a sustainable future.”

Stéphanie Charlet, investment director at Rivage Investment, said: “Our investment strategy is increasingly focused on making a positive impact on countering climate change.

”MaxSolar’s vision is completely aligned with ours, making our partnership an ideal match to our sustainable investment policy and help contribute to a successful energy transition.”

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