Ilmatar Energy Secures EUR 500 Million Debt Financing Package for Growth Plans

Credit: Ilmatar Energy

Finnish developer and producer, , has successfully secured a milestone group-level debt financing package totaling EUR 500 million (USD 535 million), marking a strategic move for future growth, as announced on Tuesday.

The transaction, led by Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund 1, witnessed active participation from Kommunal Landspensjonskasse (KLP), P Capital Partners (PCP), and accounts managed by CIP. Ilmatar has secured a day-one committed tranche of EUR 325 million, with an additional uncommitted increase option of EUR 175 million.

Ilmatar Energy's Chief Financial Officer, Antti Sallila, highlighted the significance of this debt package, emphasizing its role in reinforcing the company's position as an independent power producer. The financing will play a pivotal role in accelerating the development of renewable energy production projects in Finland and in alignment with Ilmatar's strategic goals.

In the current year, Ilmatar is set to commission six wind farms and one solar farm in Finland. With a portfolio that includes renewables in operation, under construction, or in a shovel-ready state, Ilmatar's total capacity has now reached 1 GW.

This latest financing round marks a significant milestone for Ilmatar Energy, bringing its total equity and debt to over EUR 1 billion over the past five years. The funds will be instrumental in supporting Ilmatar's ambitious growth strategy and further solidifying its presence in the renewable energy sector.

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