Spain-based ID Energy Group has successfully secured funding in the form of a development debt facility to bolster its portfolio of advanced solar PV and onshore wind projects across Europe.
The entire funding allocation comes from a recently established European debt fund.
Capcora, a financial advisory firm based in Germany, played a pivotal role in identifying lenders and structuring the agreement, further enhancing their strategic partnership with the group.
ID Energy’s collection of projects includes 67 distinct initiatives, aimed at achieving a state of readiness for construction between the first quarter of 2023 and the second quarter of 2027. Project sizes span from 1MW to 150MW.
Spain leads the pack with a capacity of 700MW, with 500MW allocated to onshore wind projects.
Following closely, Poland boasts a solar PV capacity of 600MWp, while Hungary and Italy trail with 250MWp and 150MWp, respectively.
This diverse assortment underscores ID Energy’s prominence within Spain’s renewable energy sector and underscores their commitment to advancing clean energy across various markets, according to the company.
This inventive financing framework empowers ID Energy to externally fund developmental milestones without diluting their stakes in the project pipeline.
Armed with the secured development debt facility and a robust assortment of diverse projects, ID Energy is positioned to create a lasting imprint on Europe’s energy landscape.
Julio Espadas, Co-founder and CFO of ID Energy Group, expressed enthusiasm, stating, “We are thrilled to collaborate with partners who understand the significance of accelerating the transition to renewable energy in Europe.”
“This financing facility will be a catalyst in our next growth phase, enabling us to significantly scale our pipeline.”
Alexander Enrique Kuhn, Managing Partner at Capcora, added, “We are pleased to have sourced an alternative financing route for ID Energy and accomplished the closing of this complex transaction.”
“The cross-border element and large project volume make this an exceptional achievement in the European market.”
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