German independent power producer (IPP) ILOS Projects has upsized its structured credit facility to €450 million (US$530 million) with EIG and La Caisse, as it targets more than 2GW of solar PV and battery energy storage capacity across Europe by 2028.
ILOS said the expanded financing will support its growth strategy across European markets, including Ireland, the UK, Italy and Germany, where the company is developing solar PV and co-located battery storage projects.
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The new funding builds on an initial €250 million tranche provided by EIG. The loan facility will provide flexible capital for construction equity and the acquisition of ready-to-build renewable assets.
“The upsizing of this facility reflects the progress the team has made deploying capital under the initial tranche and our continued confidence in ILOS’ strategy, asset base, and management team. This investment is consistent with EIG’s approach seeking to support scalable renewable energy platforms that we believe are well positioned to meet Europe’s growing demand for reliable power infrastructure,” Rob Johnson, managing director of EIG, said.
Karlsruhe, Germany-headquartered ILOS Projects is focused on large-scale solar PV, with a 4.5GWp portfolio spanning seven markets. The company is backed by BNP Paribas Asset Management Alts, which holds a 60% majority stake, providing long-term capital and sector expertise.
