Specializing in the financing of renewable heat and energy saving projects, Kyotherm continues its development thanks to an initial green bond issue of 30 million euros. The infrastructure debt fund “BRIDGE” managed by Edmond de Rothschild Asset Management (“EDRAM”) is participating in this transaction for €28.5 million, with Johes subscribing the balance.
This first bond issue will enable the company, which has signed contracts for €250 million, to diversify its sources of financing (in addition to equity and project financing) in order to offer increasingly attractive solutions to its partners. The proceeds from the issue of these green bonds will be used to finance or refinance renewable energy production projects (geothermal, biomass, solar thermal, fatal heat) or energy savings projects.
Kyotherm has a portfolio of more than 100 MW of assets, with approximately 60 MW in operation and 40 MW under construction. The group’s goal is to own 650 MW of projects in operation by 2024. The strength of Kyotherm’s business model as well as the diversity of the project portfolio (both geographically and technologically) contributed significantly to the success of the transaction.