ILOS Projects, a Pan-European independent power-producer (IPP) sponsored by Omnes, a private equity and infrastructure investor, has signed a €500 million ($531 million) structured credit facility with EIG, a major institutional investor in the global energy and infrastructure sectors.
The credit facility will support ILOS’ plans to generate more than 2 gigawatts of power through solar and battery projects by 2026. Loan proceeds will be available to provide construction equity and acquisition capital for ready-to-build assets. Initially, ILOS intends to focus on projects in Ireland, the United Kingdom, the Netherlands, Greece and Italy; however, the facility also contemplates the deployment of capital in other OECD jurisdictions, as well as in co-located battery storage and hydrogen.
The facility consists of an initial tranche of €250 million ($265 million) and includes an accordion that would increase the loan amount by an additional €250 million ($265 million
