ILOS Projects, a pan-European independent power producer backed by BNP Paribas Asset Management, has upsized its structured credit facility to €450 million (~$529 million) with EIG, an institutional investor in the global energy and infrastructure sectors, and La Caisse, a global investment group. The upsizing follows the initial €250 million (~$294 million) tranche provided by EIG.
The expanded facility will support the development and operation of over 2 GW of solar and battery energy storage capacity across Europe by 2028.
The proceeds from the facility will be used to fund construction equity and the acquisition of ready-to-build projects, enabling the company to accelerate its growth as a pan-European independent power producer.
ILOS plans to continue to focus on core markets, including Ireland, the U.K., Italy, and Germany.
“ILOS has delivered significant growth since inception, and this facility increase is a testament to the strength of our platform and strategy,” said Sascha Klos, Chief Commercial Officer at ILOS. “We are proud to extend our relationship with EIG while welcoming La Caisse as a new partner as we continue to scale our portfolio and strengthen our position as a leading European IPP.”
A&O Shearman acted as legal advisor, and Akereos Capital served as structurer and exclusive debt advisor to ILOS, while Milbank acted as legal advisor to EIG and La Caisse on the transaction.
Large-scale project funding increased by 73% in 2025 compared with the funding raised in 2024, according to Mercom’s Annual and Q4 2025 Energy Storage Funding and M&A report. Deal activity also rose sharply, up 71% YoY.
In April 2026, Elgin, an integrated, utility-scale solar and storage independent power producer, secured up to £500 million (~$672 million) of funding from a banking syndicate to accelerate the build-out of its UK pipeline over the coming years. The projects funded through this financing are expected to be operational before 2030.
