MaxSolar, a renewable energy developer and operator headquartered in Traunstein, Germany, has accepted a €155 million (US$174.5 million) HoldCo debt financing package from CIP (Copenhagen Infrastructure Partners to build a 1.3GW renewable energy portfolio in Germany.
The global fund manager CIP provided the HoldCo debt, and the deal refinances MaxSolar’s existing debt taken in 2023.
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The refinancing will provide additional capital to help MaxSolar build a portfolio of solar PV, standalone battery energy storage systems (BESS) and co-located BESS in Germany, and will also finance acquisitions from MaxSolar’s development platform.
MaxSolar now expects the portfolio to comprise of 912MW of solar PV, of which 440MW is already in operation, and 379MW of standalone and co-located battery storage, of which 25MW of co-located capacity is operational.
The original financing helped MaxSolar transition from a developer and engineering, procurement and construction (EPC) service provider toward its goal of becoming a renewable energy independent power producer (IPP).
The MaxSolar deal is part of CIP’s Growth Markets Fund II (GMF II), which closed in August 2026 and consists of US$3 billion. It is formed of funds from sovereign wealth funds, pension funds, family offices and Development Finance Institutions (DFIs). CIP said GMF II has already committed US$1.6 billion across nine investments in emerging markets.
GMF II will be fully committed in the next two years, the Danish energy infrastructure investor says. GMF II is three times the value of its predecessor GMF I, which is expected to deliver approximately 8.7GW of energy infrastructure via more than 50 projects in India and South Africa.
GMF II is aimed at middle-income and high-growth markets and is focused on greenfield equity co-investments. CIP’s GCF Green Credit Fund (GCF) is tuned towards developed markets in Europe, the US and APAC. The Green Credit Fund recently reached first close, raising around US$1.46 billion capital with a target of reaching around US$2.25 billion in value.
