Prosolia Energy has concluded €255 million hybrid debt financing transaction to accelerate the solar activities in Europe.
The financing was provided by EIG for the projects focused for Western Europe, while it also facilitated the arrangement. EIG is known as an investor with huge expertise in the global energy and infrastructure sector.
It has been informed that the “financing will fund both Prosolia's commercial and industrial (C&I) and utility scale segments.” The latest development has been possible with the support of Finergreen.
The duo has been working together since 2019, mainly in both C&I and utility scale projects in Spain and France.
According to the company, the completion of the financing means the company will be able to grow its existing operations in Western Europe. In addition, it can also strengthen its presence.
Prosolia shared that currently it has a pipeline of 400MW spread across different European countries Spain, Portugal, France, and Italy. The company has set a target of having 2GW of operating assets within three years.