RBS International's Institutional Banking team has closed a new syndicated €40m secured asset-backed facility to Tesseract Holdings, a wholly owned subsidiary of Aquila European Renewables Income Fund (AERIF).
AERIF, a London-listed investment company advised by Aquila Capital Investmentgesellschaft, specialises in renewable energy investments.
The fund provides investors with exposure to a multi-technology portfolio of wind, hydropower and solar photovoltaic assets across Europe (excluding the UK).
The facility has been structured to provide a flexible and scalable platform to support AERIF’s growth via a €60m uncommitted accordion, allowing the facility to increase to a maximum of €100m.
An uncommitted extension option is also incorporated, permitting the facility to be extended by a further two years.
Brad Mitchell, Relationship Director at RBS International, commented: "The provision of this facility and support of AERIF contributes towards the wider NatWest Group’s climate lending targets.
"As a bank, we are committed to combatting the effects of climate change and creating opportunities for investors and clients to share in the renewables sector."