P Capital Partners (PCP), a Swedish private credit investor, and Better Energy continue their collaboration by entering a second round of financing. The funds, amounting to EUR 175 million, will be provided through a 6-year credit facility agreement that will contribute to Better Energy’s future growth across its core markets.
Funds dedicated to constructing energy parks
With over 13 GW in its project pipeline, the financing strengthens Better Energy's ability to develop, construct and operate energy parks across Europe. The agreement will primarily finance the costs associated with progressing projects from development to operation in the company’s value chain. To maximise its impact, Better Energy prioritises large-scale energy parks which dedicate space to nature and create value for the region. The expansion financing from PCP is another vote of confidence in Better Energy’s approach to fostering long-term and trusting partnerships.
“Based on the results they are seeing, investors and financiers continue to return to support our business,” says Flemming Meineche, Director of Debt Partnerships & Structuring at Better Energy. “Better Energy believes in long-term partnerships. Having worked with PCP during the past four years, we look forward to continuing the good collaboration with them in the years to come. The continued collaboration is a strong show of confidence and mutual understanding of what is required to drive the green transition.”
Shared vision of renewable energy system
PCP and Better Energy share a common philosophy of sustainable development and ambitions to drive the transition to renewable energy systems and create long-term partnerships. The financing will be drawn from PCP's Fund V and Transition Fund. In 2019, Better Energy received EUR 100 million from PCP’s Fund IV. Better Energy’s integrated value chain and capacity to significantly increase renewable energy supply in the coming years were critical factors in PCP’s financing decision.
“We continue to be impressed by Better Energy’s ability to make a meaningful impact in Northern Europe’s progression toward an energy system based on renewables,” says Petter Lindblad, Investment Director at P Capital Partners.
“Better Energy provides us and our investors with an opportunity to deliver the capital needed to bring green energy projects to life,” adds Petter Björklén, Managing Director at P Capital Partners.
Partnering with like-minded financial partners
Financial partnerships with a broad range of investors, including PCP, have played an important role in Better Energy’s ability to establish over 120 renewable energy parks. Access to capital enables Better Energy to increase the scale of its projects, both in terms of green energy produced and areas dedicated to nature. The EUR 175 million financing is another example of the value of long-term financial partnerships that directly impact the green energy transition.
Christian Bergmann Mølgaard | +45 26 71 36 34 | email@example.com
Flemming Meineche | Better Energy | Director of Debt Partnerships & Structuring | +45 29 44 89 12 | firstname.lastname@example.org
Petter Lindblad| P Capital Partners | Investment Director | +46 73 823 38 59 | email@example.com
Petter Björklén| P Capital Partners | Managing Director | +46 72 700 05 33 | firstname.lastname@example.org
About Better Energy
Better Energy is a fully integrated renewable energy company that builds additional green energy capacity. We develop, build, own and operate large-scale renewable energy parks with an integrated focus on local and regional value creation and a strong commitment to nature. The clean electricity we sell is more affordable than coal, oil, and gas, and we are one of the fastest growing providers of solar energy in Northern Europe with a pipeline of over 13 GW of solar parks.
About P Capital Partners
PCP is a multi-strategy private credit investor committed to unlocking the full potential of companies in Northern Europe through enduring partnerships. Our collaborative approach delivers tailored financial solutions and strategic advice to our investee partners. Founded in 2002, we have made over 160 investments providing over EUR 4bn to our investees. PCP is headquartered in Stockholm, Sweden.