ID Energy secures development debt facility for 1.7 GWp European renewable energy pipeline
ID Energy Group (“ID Energy”), a vertically integrated Spanish renewable energy group, has successfully secured a development debt facility to support its pipeline of late-stage solar PV and onshore wind projects in Europe. The facility was entirely subscribed by a newly established European debt fund. Capcora, a Germany based financial advisor, played a crucial role in sourcing lenders and structuring the deal, further solidifying their position as a strategic partner of the group.
ID Energy’s pipeline consists of 67 individual projects, targeted for ready-to-build status between Q1 2023 and Q2 2027, with sizes ranging from 1 MW to 150 MW. Spain takes the lead with 700 MW, of which 500 MW comprises onshore wind projects. Poland closely follows with a solar PV capacity of 600 MWp, while Hungary and Italy trail with 250 MWp and 150 MWp respectively. This diverse portfolio underpins ID Energy’s position as a major player in Spain’s renewable energy landscape and demonstrates their dedication to advancing clean energy across multiple markets.
This innovative funding structure allows ID Energy to finance development milestones externally without diluting their shares in the pipeline. With the secured development debt facility and a strong foundation of diverse projects, ID Energy is poised to make a lasting impact on Europe’s energy landscape.
“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,” says Julio Espadas, Cofounder, Shareholder and CFO, ID Energy Group.
“We are pleased to have sourced an alternative financing route for IDE 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,” explains Alexander Enrique Kuhn, Managing Partner at Capcora.
About ID Energy Group
ID Energy Group is an international corporate group that is dedicated to renewable energy and specialised in solar photovoltaic energy. ID Energy Group offers development and construction services, as well as operation and maintenance services for their own and third-party facilities. The team is currently made up of +200 professionals and the company has offices in Spain, Poland, Hungary, Serbia, Croatia, Italy and Chile.
Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.