Waga Energy, a European producer of biomethane from landfill gas, and Meridiam, an investment fund specializing in public infrastructure finance, have obtained a non-recourse loan of €10.4 million ($11.7 million) from BNP Paribas and Banque Populaire Grand Ouest to refinance four WAGABOX(R) biomethane units located in France.
The WAGABOX(R) units are part of two SPV companies, one of which is jointly owned by Meridiam. These two companies signed a non-recourse credit agreement with the banks for €10.4 million ($11.7 million) to repay the loans previously contracted with Waga Energy and Meridiam. The refinancing of these four WAGABOX(R) units will strengthen Waga Energy's cash flow and enable further financing of new projects in Europe and North America.
The SPV company jointly owned by Waga Energy and Meridiam hosts three biomethane units, one of which is still under construction. The second SPV company hosts one unit and is 100 percent owned by Waga Energy. When t