Image: ABO Wind

German renewable energy developer ABO Energy has closed its first €240 million (US$279.8 million) syndicated loan, strengthening its ability to develop and construct new wind, solar and storage projects.

The facility is evenly split across traditional loans, revolving working capital facilities, and guarantee lines. Commerzbank acted as lead arranger, with six other banks joining the syndicate. The financing will primarily refinance existing loans and promissory notes, while also providing additional liquidity to support the company’s growing project pipeline.

Calling the financing “an important step for the company,” ABO Energy managing director Alexander Reinicke said: “We are delighted to have secured the necessary funds to continue our successful course and develop and construct more wind, solar and storage projects. The syndicated loan confirms the financial community’s confidence and interest in our forward-looking company.”

The transaction attracted strong interest from new banking partners, with both leading German and international institutions participating on standard market terms. Commerzbank served as sole bookrunner and agent, with Clifford Chance advising the banks and Noer advising ABO Energy.

As of March 2024, ABO Energy reported a 23.1GW development pipeline, with solar projects representing about 30% of the total capacity. The company develops, finances and builds large-scale solar farms, typically selling them at or near commissioning rather than operating them long-term. Past projects include a 79MW solar facility in Hungary and a 10MW project in Colombia.