Karlsruhe-based ILOS Projects, a pan-European Independent Power Producer (IPP) sponsored by Omnes, announced on Tuesday that it has raised €500M in a structured credit facility from EIG, an institutional investor in the global energy and infrastructure sectors.
EIG claims to be a significant institutional investor in the global energy and infrastructure industries with $23.1B AUM. Since its inception in 1982, the firm has invested more than $44.5B in the energy industry through 393 projects or businesses. Many of the world’s biggest pension plans, insurance firms, endowments, foundations, and sovereign wealth funds are among EIG’s clients in the US, Asia, and Europe.
The current facility in ILOS contains an initial €250M tranche as well as an accordion that would expand the loan amount by an additional €250M.
Capital utilisation
ILOS says that the funds will help achieve its goal of generating over 2GW of power through solar and storage projects by 2026. It will also help accelerate its growth toward becoming a leading pan-European Independent Power Producer, with loan proceeds available to provide construction equity and acquisition capital for ready-to-build assets.
The German company also mentions that it wants to initially focus on projects in Ireland, the UK, the Netherlands, Greece, and Italy. But it will also consider capital deployment in OECD countries, as well as in co-located battery storage and hydrogen.
Rob Johnson, MD and Global Head of Direct Lending at EIG, says, “We’re thrilled to support ILOS in these exciting growth initiatives as they work to expand their footprint across Europe. This transaction is a testament to our confidence in the management team, their strategy and ILOS’s sponsors, and it underscores EIG’s commitment to investing in high-quality assets and energy infrastructure that support a low-carbon future.”
About ILOS Projects
Founded in 2018 by Nikolaus Krane and Michael Winter, ILOS Projects focuses on PV development within Europe. The company’s goal is to build a sizable pipeline and become an IPP that runs PV assets in Europe’s key markets.
Omnes Capital, a French private equity firm approved by the French financial authorities (AMF, Autorité des Marchés Financiers), acquired 50 per cent of ILOS to facilitate growth of ILOS. Omnes Venture provides ILOS Projects with both development and construction funding.
Omnes claims to be a leading private equity and infrastructure investor. With over €5B in AUM, it backs firms to fuel their growth in three major sectors: venture capital, growth & buyout capital, and infrastructure. The firm is devoted to ESG factors and established the Omnes Foundation to support programmes that benefit children and young people. It has agreed to the UN Principles for Responsible Investment (PRI).
