BNZ Total IPP Financing (TIPFF) wins PFI Power Deal of the Year 2024, EMEA

Pleased to announce that the Total IPP Financing (TIPPF) Akereos Capital arranged for BNZ, a leading Southern European IPP of Nuveen Infrastructure, won “Power Deal of the Year 2024, EMEA” at PFI (Yearbooks & Awards | PFI). The innovative and landmark transaction totalling €680,000,000 is a game changer in the European Energy Transition as it demonstrates IPPs can finance, through one process, their full pipeline of assets in several jurisdictions and across both senior and subordinated capital, eliminating the need for future equity contributions.

The outcome of the transaction is a testament to the Akereos teams’ leading role in the renewable financing space. Akereos has successfully arranged 15 Holdco financings for IPPs and Developers since the first such deal in 2022, and has become the no.1 arranger of renewable bonds globally in both 2023 and 2024.

We are grateful for the trust that BNZ and Glennmont have shown in our franchise. We would like to sincerely thank EIB, ABN, BankInter, Intesa, Natwest, SMBC for their role in the senior part of the financing, and thank Ares for providing the Holdco / Subordinated tranche, as well as Linklaters, Clifford Chance, Ashurst and Garrigues for their legal support.