December 20 (Renewables Now) - French renewable energy company Neoen has secured EUR 245 million (USD 290m) in mezzanine debt to support 1.6 GW of onshore wind and solar projects, mainly in France and Australia.
The financing was provided by Australian investment manager AMP Capital, the latter said in a press release on Tuesday. The funding, closed in three cross-collateralised currency tranches, has been validated as a green bond. Most of the funds will be allocated for projects in France and Australia, which account for more than 80% of the total portfolio that will receive support.
“The portfolio we are funding represents a unique business, by virtue of its scale, geographic and technological diversification as well as the expertise within Neoen underlying its development," said Emma Haight-Cheng, AMP Capital Infrastructure debt partner.
The investment was carried out through AMP Capital Infrastructure Debt Fund III, which closed to new investors in August after raising around USD 4.1 billion. Green Giraffe provided financial assistance to Neoen, while Maffei served as legal counsel.
The French company operates in 10 countries, among which are France, Australia, Mexico and Argentina.
(EUR 1.0 = USD 1.184)