Germany's Badenova nets EUR 70m to invest in energy transition
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German energy company Badenova has raised EUR 70 million (USD 71.39m) through a green Schuldschein loan to support its investments in the energy transition.
The Schuldschein, a German debt instrument used as an alternative to credit facilities and bonds, drew solid interest despite the difficult market environment and the initially targeted volume of EUR 50 million was exceeded, Badenova said on Thursday.
The transaction took place between May 19 and June 23 and was managed by finpair GmbH, the digital Schuldschein platform of German bank NordLB.
The note, marking Badenova's first green financing transaction, provides the company with liquidity to continue to drive forward the energy transition in an ambitious manner, said Badenova's executive Hans-Martin Hellebrand.
The energy company with its headquarters in Freiburg im Breisgau, Baden Wuerttemberg is now nearing the completion of one of the world's largest solar installations on the roofs of a stadium. The 2.38-MWp solar photovoltaic (PV) power system on the roof of football club SC Freiburg's Europa Park Stadion is scheduled to come into operation in the second half of September.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.