Luneos Green Energy
Luneos Green Energy
PCP Transition has provided renewable energy developer and operator Luneos Green Energy (“LGE”) with a tailored financing solution that accelerates its growth plan and Poland’s energy transition.
The Euro-denominated debt package finances the build-up of a fully merchant 167 MW solar photovoltaic and onshore wind portfolio across Poland. Construction of most of the plants will commence in early 2024. The entire portfolio is anticipated to make a substantial contribution to Poland’s energy system net-zero targets, accelerating the shift away from coal dependency, starting in early 2025.
LGE is a joint venture between SUSI Partners, acting through its flagship SUSI Energy Transition Fund, and Luneos, a Polish provider of energy transformation solutions to business customers. LGE’s management team’s sector expertise, entrepreneurial mindset, and commitment to building sustainable energy infrastructure exemplify what our PCP Transition strategy seeks to support.
By providing bespoke Euro-denominated financing against Polish Zloty-denominated merchant cashflows, PCP Transition grants LGE the means to optimize the financing process for its first portfolio of ready-to-build plants.
LGE’s attention to environmental and social risk factors, including the adoption of responsible supply chain practices, is a case study for industry peers and cements the alignment with PCP Transition’s mandate.
“PCP Transition is proud to support LGE with highly tailored financing that represents a cornerstone in its strategic growth. It is a privilege to partner with a likeminded organization that shares the same ambition to responsibly contribute towards Poland’s path to decarbonization.”, adds Michele Sindico, Director, PCP Transition
This transaction adds to the PCP Transition’s diversified portfolio of investments in the European energy and sustainability transition.