German renewables developer Blue Elephant Energy has received a €200 million (US$214 million) investment from European asset management company Infranity.
The funding agreement will support the development and construction of Blue Elephant’s 1GW renewable energy pipeline across Europe. Under the agreement, Infranity has provided Holdco construction financing to Blue Elephant Energy, with the option to double the funding.
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Dorothee Klinkmann, head of corporate and project finance at Blue Elephant Energy, described the partnership as a strategic move that strengthens the company’s capital structure and supports its growth opportunities, drives momentum, and enables a more effective execution of the firm’s long-term strategy.
Since its inception in 2016, Hamburg, Germany-based Blue Elephant Energy has built a portfolio primarily across Western and Central Europe, with a total installed capacity of 1,730MWp.
The company’s global portfolio includes wind and solar assets across Europe. Its solar capacity stands at 15.3MW in Germany and 14.28MW in France, with additional holdings of 717MWp in the Netherlands, 51.6MW in Italy, 149.91MW in Spain, 46.92MW in Greece, and 65.18MW in Hungary. Outside Europe, the company owns 115MW in the Dominican Republic and 281MW in Chile.
In 2023, Blue Elephant Energy acquired a 120MWp solar PV portfolio in Chile. The portfolio includes 20 projects spread across Coquimbo, Valparaíso, Metropolitana de Santiago, O’Higgins, and Maule, and was purchased from local developer Fondo de Inversión Rockville Solar Energy.
