Swedish private credit investor P Capital Partners (PCP) has provided Better Energy with a further €175m in funding to support the company’s expansion plans in renewable energy.
The financing, via PCP’s Fund V and Transition Fund, will be provided through a six-year credit facility agreement, helping Better Energy to develop, construct and operate energy parks across Europe. Better Energy has over 13GW in its project pipeline.
The latest funding follows a €100m investment that PCP’s Fund IV provided to Better Energy in 2019.
“Better Energy provides us and our investors with an opportunity to deliver the capital needed to bring green energy projects to life,” said Petter Björklén, managing director at PCP.
Petter Lindblad, investment director at PCP, said: “We continue to be impressed by Better Energy’s ability to make a meaningful impact in Northern Europe’s progression toward an energy system based on renewables.”
Flemming Meineche, director of debt partnerships and structuring at Better Energy, said: “Based on the results they are seeing, investors and financiers continue to return to support our business. Better Energy believes in long-term partnerships.
”Having worked with PCP during the past four years, we look forward to continuing the good collaboration with them in the years to come. The continued collaboration is a strong show of confidence and mutual understanding of what is required to drive the green transition.”
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