Luxcara Secures Financial Close for 315.7 MW Solar Portfolio

Luxcara, a clean energy infrastructure asset manager, along with Munich-based bank, Bayerische Landesbank has secured financial close for solar PV portfolio projects with a total installed capacity of 315.7 MW located in Denmark.

The Danish portfolio comprises three large-scale projects, one in the region of Jutland and two in Zealand. The three solar projects – Barmosen (137.3 MW), Faxe (111.6 MW), and Vildbjerg (66.7 MW) – were operationalized in late 2022 and were fully connected to the grid in 2023.

“We are really excited to reach this important milestone for this landmark portfolio with Bayerische Landesbank. This demonstrates again the high quality of our projects and provides us with more flexibility to accelerate the energy transition, “commented Nils Driemeyer, Finance Director of Luxcara.

The parties have agreed to keep the volume of the financing confidential.

Luxcara offers equity and debt investment opportunities to international investors in the global clean energy infrastructure. The company also acquires, structures, finances, and operates clean infrastructure projects as a long-term buy-and-hold investor. According to the company, it has a total capacity of 6 GW of clean energy infrastructure and an investment volume of about €6 billion (~$6.4 billion) in its portfolio across Europe.

According to Mercom’s Q4 and Annual Global Solar Funding and M&A report, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed. In a YoY comparison, large-scale project funding increased 74.5% compared to the $9.8 billion raised in 52 deals in Q4 2022.

Recently, Ib vogt, a developer of solar and storage projects, has secured €60 million (~$65.1 million) in project funding to build and operate a 95.18 MW solar project in Spain. Banco Santander, a Madrid-based multinational financial services company, provided the funding. Clifford Chance, a London-based multinational law firm, advised Ib vogt on the project financing.