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.
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“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“, says Flemming Meineche, Director of Debt Partnerships & Structuring at Better Energy.
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.
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“Better Energy provides us and our investors with an opportunity to deliver the capital needed to bring green energy projects to life,” Petter Björklén, Managing Director at P Capital Partners says. (hcn)
