The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Independent power producer ILOS Projects raises €500 million for European solar, storage pipeline

By Will Norman
LinkedIn
Twitter
Reddit
Facebook
Email

German independent power producer (IPP) ILOS Projects has secured a €500 million (US$531 million) structured finance facility from global energy and infrastructure investor EIG, intended to fund ILOS’s plans for over 2GW of solar and battery storage capacity by 2026.

The facility consists of an initial €250 million (US$266 million) loan and contains an accordion allowing for a further tranche of €250 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

ILOS Projects is sponsored by global infrastructure financier Omnes Capital. Michael Pollan, partner at Omnes, said: “ILOS has seen tremendous growth over the last two years. We are proud to continue supporting the company as it works toward this ambitious IPP project.”

ILOS said that it plans to expand its scope to become a pan-European IPP, initially focusing on projects in Ireland, the UK, the Netherlands, Greece and Italy but with a view to expanding to other jurisdictions and into battery storage and hydrogen projects.

Loan proceeds in this agreement have been made available for construction equity and acquisition capital for ready-to-build assets.

Rob Johnson, managing director and global head of direct lending at EIG, said: “We’re thrilled to support ILOS in these exciting growth initiatives as they work to expand their footprint across Europe. This transaction is a testament to our confidence in the management team, their strategy and ILOS’s sponsors, and it underscores EIG’s commitment to investing in high-quality assets and energy infrastructure that support a low-carbon future.”

This story first appeared on PV Tech.

Energy-Storage.news’ publisher Solar Media will host the 8th annual Energy Storage Summit EU in London, 22-23 February 2023. This year it is moving to a larger venue, bringing together Europe’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place. Visit the official site for more info.

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Premium
May 17, 2024
We hear from renewables independent power producer (IPP) and energy trading firm Monsson about a recent BESS project in Romania which reportedly used nearly 100% European technologies.
Premium
May 16, 2024
UK electricity market operator National Grid ESO is reassessing how much energy storage gets paid in the Capacity Market, battery storage operators told Energy-Storage.news, with one calling the current system ‘outdated’.
May 16, 2024
Infrastructure investor InfraVia has bought a majority stake in Giga Storage, a Netherlands-headquartered BESS developer which is building a 2.4GWh project in Belgium.
May 16, 2024
Inverter and BESS company Sungrow has signed a deal with developer Nofar Energy for a 230MWh project in Saxony-Anhalt, Germany.
May 15, 2024
UK BESS owner-operator Gresham House Energy Storage Fund has put a 50MW/50MWh project into commercial operation in Lancashire.

Most Popular

Email Newsletter