Kyotherm, a leading investment company dedicated to financing renewable heat and energy efficiency projects, has secured a €200 million multi-currency debt facility with AllianzGI, one of the world’s leading active asset managers.

This innovative portfolio financing provides Kyotherm with long-term, flexible financing aligned with the contracted nature of its assets and supports the continued scaling of its investment programme.

The financing is split between three currencies (€, £ and US$) and includes a capex component that can be drawn over 3.5 years. Drawdowns are governed by sizing metrics and portfolio credit quality checks.

The proceeds will be used to refinance selected existing projects and support future project financing and acquisition. The facility is designed to support Kyotherm’s continued growth across its core technologies and geographies. Particularly, the facility will finance the acquisition of a portfolio of 11 projects from SEEIT, bringing Kyotherm’s secured net capacity to 414 MW.

“This debt facility will further increase our capacity to finance or acquire projects without having to structure dedicated financing packages, increasing significantly execution speed and competitiveness.” said Thibault Chevallier, CFO at Kyotherm.

“We are pleased to support Kyotherm with this landmark flexible multi-currency debt facility that will accompany the company in its growth”” added François-Yves Gaudeul, Infrastructure Debt Lead Portfolio Manager – Managing Director at Allianz Global Investors. “Besides, this transaction allows our investors to conduct another attractive investment in the renewable and energy efficiency sectors.”