on NEAG Norddeutsche Energie AG
NEAG and Zencap AM Finalize Junior Debt Deal for Wind Portfolio
NEAG Norddeutsche Energie AG and Zencap Asset Management have successfully concluded a junior debt transaction for a German onshore wind portfolio with a total capacity of 77.2 MW. Zencap AM structured this financing with a €20 million facility over a seven-year term, aimed at their Zencap European Sustainable Transition II fund. The facility will support the acquisition and construction of NEAG's wind projects, with initial drawdown starting January 2025.
The portfolio comprises seven projects in Mecklenburg-Western Pomerania, Saxony-Anhalt, Thuringia, and Brandenburg, ranging from 4 MW to 28 MW. Two are operational; others are under construction with expected commissioning in 2025 and 2026. The projects benefit from German Renewable Energy Act tariffs.
NEAG's Nik Piening noted the transaction's role in accelerating renewable energy growth, while Zencap's Guillaume Boucher highlighted Zencap's capacity to deliver complex financial solutions in challenging markets.
R. E.
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