Allianz Global Investors (AllianzGI) has provided a €200m (£148m) multi-currency debt facility to Kyotherm, an investment company that finances renewable heat and energy efficiency projects.
Asset manager AllianzGI said the facility will refinance the majority of Kyotherm’s existing projects and support the firm’s expansion across core technologies and geographies.
The facility will also finance the acquisition of a portfolio of 11 projects from energy infrastructure trust SEEIT, bringing Kyotherm’s secured net capacity to 414MW, the firm said.
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“This debt facility will further increase our capacity to finance or acquire projects without having to structure dedicated financing packages, increasing significantly execution speed and competitiveness,” said Thibault Chevallier, chief financial officer at Kyotherm.
The financing will be split across three currencies, the euro, pound and US dollar, and includes a capex component that can be drawn over 3.5 years, according to the firms.
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Since November 2024, Kyotherm has been European private equity firm InfraVia Capital’s investment platform dedicated to financing and acquiring renewable heat and energy efficiency projects, targeting €1.5bn in project financing and acquisitions over the next four to six years.
“We are pleased to support Kyotherm with this landmark flexible multi-currency debt facility that will accompany the company in its growth,” added François-Yves Gaudeul, infrastructure debt lead portfolio manager, managing director at AllianzGI. “Besides, this transaction allows our investors to conduct another attractive investment in the renewable and energy efficiency sectors.”
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