Aukera has closed a €460 million structured credit facility led by EIG to support the development of its European battery storage, renewable energy, and energy infrastructure portfolio.
The financing expands an original facility that included a €200 million initial commitment and an accordion of up to €250 million.
The amended structure converts the accordion into a firmly committed €260 million Series 2 tranche, increasing total committed capital to €460 million.
Aukera plans to use the additional funding to advance projects across Belgium, the United Kingdom, Germany, Romania and Italy.
The company currently has close to 1 GW of projects in construction or operation and is developing a pipeline exceeding 14 GW across Europe.
Aukera was co-founded in 2021 by Pascal Emsens and Catalin Breaban and is backed by AtlasInvest, Reggeborgh and SFPIM, Belgium’s sovereign wealth fund.
Nomura Greentech served as issuer financial advisor, while A&O Shearman served as issuer legal counsel and White & Case represented the investor.
KEY QUOTES:
“We believe Europe needs to at least quadruple its battery storage capacity to reach the EU’s 200 GW target by 2030. That requires not just capital, but teams and platforms that can deliver complex infrastructure repeatedly, on time, on budget and across multiple markets. This facility with EIG gives Aukera the financial depth to do exactly that. With close to 1 GW in construction or operation today, a 14 GW pipeline, and a team with deep expertise across development, financing, delivery, revenue optimisation and sophisticated asset management, we expect Aukera to emerge as one of Europe’s established battery storage and renewable energy platforms. We are well positioned to continue building the infrastructure that supports Europe’s evolving energy system.”
Catalin Breaban and Pascal Emsens, Co-Founders of Aukera
“We are pleased to expand our relationship with Aukera through this significantly upsized facility. Aukera has built a diversified portfolio across several European markets, supported by an experienced team with capabilities spanning project development, financing, construction and operations. This transaction reflects EIG’s confidence in the Aukera team and strategy, as well as our focus on providing flexible capital solutions to established energy infrastructure platforms.”
Rob Johnson, President and CIO of EIG Credit Management
