London, Milan - 16 January 2025 - EOS Investment Management Group (EOS IM), an independent asset manager specialising in the management of alternative funds with a focus on investments in the energy and sustainable transition, has completed an important and innovative financing transaction of part of the investment portfolio of the EOS ReNewable Infra Fund II (the "Fund"). The financing, in the form of multi-jurisdiction green loan HoldCo financing, insists on the portion invested by the Fund in a portfolio composed of photovoltaic plants for a total capacity of over 250MW, more than half of which located in Italy (in the regions of Lazio and Sardinia, under construction) and the remainder in Spain (already operational).
The bilateral financing agreement - signed with ING Bank N.V. Milan Branch - provides for medium-term senior debt, divided into multiple tranches, and will provide significant support to the construction of renewable energy projects in the Fund's portfolio and its financial optimisation. By leveraging innovative financial solutions, this initiative will expand the impact of EOS IM's investments to accelerate the decarbonisation of the energy sector through large-scale sustainable solutions.
The structure of the €108 million Green Loan includes advanced mechanisms, including VAT financing and support, in the form of a guarantee, for the signing of Power Purchase Agreements, which improve the operational efficiency and scalability of projects.
"This financing represents a further important contribution in our drive to accelerate the energy transition in Italy and Europe," commented Natalino Mongillo, Managing Partner and Co-Founder of EOS IM Group, adding that "these resources allow us to consolidate one of the largest solar project portfolios in Europe, significantly increasing the installed energy capacity and renewable energy produced for the country.
This transaction also reinforces EOS IM's adherence to the strictest ESG principles that require a firm and measurable commitment to generating tangible environmental and social benefits from its investments.