ILOS Upsizes $529 Million Credit Facility for European Solar and Storage Projects
ILOS Projects has announced the upsizing of its structured credit facility to $529 million (€450 million) in partnership with EIG and La Caisse, increasing an earlier $294million (€250 million) tranche. The facility is intended to support the company’s expansion of solar and battery storage assets across Europe.
The financing is designed to provide flexible capital for construction equity and the acquisition of ready-to-build projects. ILOS Projects plans to develop and operate more than 2 GW of solar and battery storage capacity across Europe by 2028, with activity focused on Ireland, the United Kingdom, Italy, and Germany.
Sascha Klos, Chief Commercial Officer at ILOS, said: “ILOS has delivered significant growth since inception, and this facility increase is a testament to the strength of our platform and strategy. We are proud to extend our relationship with EIG while welcoming La Caisse as a new partner as we continue to scale our portfolio and strengthen our position as a leading European IPP.”
From the investor side, Rob Johnson, Managing Director of EIG and President & CIO of EIG Credit Management, said the expanded facility reflects both execution progress and confidence in the platform: “The upsizing of this facility reflects the progress the team has made deploying capital under the initial tranche and our continued confidence in ILOS’ strategy, asset base, and management team.”
Jérôme Marquis, Managing Director and Head of Private Credit at La Caisse, added: “This transaction reflects our confidence in the quality of ILOS’s platform and aligns with our focus on high-quality renewable power assets across Europe.”
Legal and advisory roles included A&O Shearman, Akereos Capital, and Milbank.
Source: businesswire.com
