The flexible financing is bespoke to ABO Energy's corporate strategy and helps to optimize their liquidity. In addition, the structure provides the project developer with the flexibility to either sell a part or the entire solar portfolio at any time within the agreed timeframe or enter into long-term financing.
The transaction not only strengthens the partnership between Berenberg and ABO Energy, but also underlines the bank's expertise in evolving markets with high growth potential in the renewable energy sector.
Torsten Heidemann, Head of Infrastructure & Energy at Berenberg, commented: “We are excited to continue our partnership with ABO Energy. With this financing we have helped them to strengthen their market position in a rapidly growing utility-scale solar market. Alongside Poland, Hungary is the leader in Central and Eastern European solar power generation. Thanks to our fast and efficient deal process, we were able to meet ABO Energy's tight schedule and realised the transaction by the end of the year.”
“We are delighted about the very good cooperation with Berenberg,” said Zsolt Balogh, General Manager of ABO Energy, responsible for the financing and sale of projects in Hungary, Greece and Poland: ”The project financing is a valuable instrument for us to optimally support the accelerating energy transition in many countries and to bring as many projects and as quickly as possible to the grid.”
About Berenberg:
Berenberg was founded in 1590 and is one of today’s leading European private banks with its business divisions Wealth and Asset Management, Investment Banking and Corporate Banking. Managed by personally liable partners, the Hamburg-based bank has a strong presence in the financial centres of Frankfurt, London, and New York. The Infrastructure & Energy business division is part of Corporate Banking and advises customers and investors on all transaction-, financing- and project-related issues. Germany's oldest private bank has already launched six green energy and digital infrastructure debt funds for professional investors with a total volume of over one billion euros. The funds finance renewable energy plants worldwide in the form of HoldCo Debt or as so-called unit tranches. At the same time, they contribute to the global energy transition and thus make an important contribution to society and the environment. Further information can be found at www.berenberg.de
About ABO Energy:
ABO Energy (formerly known as ABO Wind) successfully develops and builds wind and solar energy projects. Founded in 1996, the Germany-based company has realised more than 5,500 megawatts of capacity to date and built around 2,500 megawatts of them. The company’s annual investment amounts to 1 billion euros. More than 1,200 employees in 16 countries work with enthusiasm on the planning, financing, construction, operational management, and maintenance of plants for a sustainable energy supply.
Important information:
This information is a marketing communication. This information is aimed exclusively at clients in the "professional investors" or "semi-professional investors" client group within the meaning of Section 1 (19) Nos. 32 and 33 KAGB. This information and references to issuers, financial instruments or financial products do not constitute an investment strategy recommendation within the meaning of Article 3(1)(34) of Regulation (EU) No 596/2014 or an investment recommendation within the meaning of Article 3(1)(35) of Regulation (EU) No 596/2014, in each case in conjunction with Section 85(1) WpHG. As a marketing communication, this information does not fulfil all legal requirements to ensure the impartiality of investment recommendations and investment strategy recommendations and is not subject to any prohibition on trading prior to the publication of investment recommendations and investment strategy recommendations. This information is intended to give you the opportunity to make up your own mind about an investment opportunity. However, it is not a substitute for legal, tax or individual financial advice. Your investment objectives and your personal and financial circumstances have also not been taken into account. We therefore expressly point out that this information does not constitute personalised investment advice. Any products or securities described may not be available for purchase in all countries or only to certain categories of investors. This information may only be distributed to the extent permitted by applicable law and in particular not to US citizens or residents. This information has not been audited by an independent accounting firm or other independent expert. The future performance of an investment may be subject to taxation, which depends on the investor's personal situation and may change in the future. Returns on investments in foreign currencies may rise or fall due to currency fluctuations. The purchase, holding, exchange or sale of a financial instrument and the utilisation or cancellation of an investment service may incur costs that affect the expected income. Only the investor agreement together with the General and Special Terms and Conditions of Investment, the information document pursuant to Section 307 KAGB and the subscription form (hereinafter collectively referred to as "sales documents") are authoritative for a decision on this investment. An investment decision should be made on the basis of all characteristics of the fund and not only on sustainability-related aspects. The sales documents are available free of charge in German from the fund's sales agent. The business address of the sales office is: Joh. Berenberg, Gossler & Co KG (Berenberg), Neuer Jungfernstieg 20, 20354 Hamburg. A fund investment always involves the acquisition of units in an investment fund, but not a specific underlying asset (e.g. shares in a company) held by the respective fund. The statements contained in this document are based either on the company's own sources or on publicly accessible third-party sources and reflect the information available at the time the presentation below was prepared. Subsequent changes cannot be taken into account in this document. Information may no longer be accurate due to the passage of time and/or as a result of legal, political, economic or other changes. We assume no obligation to point out such changes and/or to provide updated information. An online glossary is available at www.berenberg.de/glossar to explain related technical terms. Date 23.01.2025