Orrick has advised Cr\u00e9dit Agricole Corporate and Investment Bank (Cr\u00e9dit Agricole CIB) on the successful closing of a new senior and mezzanine borrowing base financing for AMPYR Distributed Energy (ADE), Europe’s leading distributed energy infrastructure platform, to support ADE’s development of solar and battery energy storage systems (BESS) projects across Europe.<\/p>\n
Cr\u00e9dit Agricole CIB provided a \u20ac120,000,000 senior revolving loan facility to the German financing entity within ADE, AMPYR Distributed Energy FinCo GmbH. Alongside the senior facility, funds managed by Franklin Templeton (FT) provided a \u20ac55,000,000 mezzanine facility. The funds can be drawn upon to fund financing costs and approved expenditure on ADE’s solar and BESS assets.<\/p>\n
THE COMPANIES <\/p>\n
Cr\u00e9dit Agricole CIB is the corporate and investment banking arm of the Cr\u00e9dit Agricole Group.<\/p>\n
AMPYR Distributed Energy (ADE) is a leading UK investor, owner and operator of distributed energy assets across the UK and Europe, with a particular focus on commercial and industrial operations.<\/p>\n
THE IMPACT<\/p>\n
The transaction follows the successful closing of Cr\u00e9dit Agricole CIB’s \u00a3170,000,000 borrowing base facility to ADE last year, and the related \u00a340,000,000 of mezzanine facility (with a \u00a310,000,000 accordion) provided by FT, both for the development of solar and BESS projects in the UK. <\/p>\n
This financing will support ADE in expanding its distributed solar and BESS portfolio across Europe, including Germany, Spain, the Netherlands, Belgium and Luxembourg.<\/p>\n
THE TEAM<\/p>\n
The Orrick team was led by Adam Smith<\/a>\u00a0and supported by Muhammad Akhtar<\/a>, Milo Dunne<\/a>\u00a0and James Labovitch. Simon Folley<\/a>\u00a0and Alfred Weightman<\/a>\u00a0also provided valuable assistance.<\/p>\n","protected":false},"excerpt":{"rendered":"Orrick has advised Cr\u00e9dit Agricole Corporate and Investment Bank (Cr\u00e9dit Agricole CIB) on the successful closing of a…\n","protected":false},"author":2,"featured_media":26135,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12927],"tags":[12947],"class_list":["post-66896","post","type-post","status-publish","format-standard","has-post-thumbnail","category-credit-agricole","tag-credit-agricole"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/66896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=66896"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/66896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/26135"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=66896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=66896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=66896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}