VSB Group, a German wind and solar developer, has bolstered its financial capabilities with the expansion of its syndicated loan facility to EUR 160 million (USD 171.6m). This move comes as part of the company's strategic initiative to fuel its market expansion across nine European countries.
Under the arrangement, VSB Group has secured an additional EUR 40 million in debt financing through a syndicate led by domestic lender Commerzbank AG. The loan, with a term of two and a half years, aims to provide flexibility and planning certainty crucial for VSB Group's growth and internationalization.
Hartmut Lieder, CFO of VSB Group, emphasized the significance of this syndicated loan, stating, “The syndicated loan creates flexibility and planning certainty to support VSB Group's growth and internationalization.” He further added, “This arrangement will enable the company to enhance its financial framework for the coming years.”
In a separate development, VSB Group announced the successful commencement of commercial operations at its 17.1-MW Vockenrod wind farm in the German state of Hesse. Situated in the municipality of Antrifttal in the Vogelsbergkreis district of Middle Hesse, the wind farm is equipped with three Nordex N149-5.X turbines.
Following the project's success in the February round of the Federal Network Agency's (BNetzA) tender program, VSB Group plans to expand the Vockenrod site by adding two more turbines, slated for commissioning in the spring of 2026. The installation of these additional turbines is scheduled to commence in the fourth quarter of this year.
