Green Genius, the renewable energy developer, has completed a 65 million euro green bond issue, about 72.5 million dollars, to refinance existing subordinated construction loans. The bonds mature in four years, pay a floating rate of three month EURIBOR plus 8 percent, and are expected to list on Nasdaq Stockholm’s Sustainable Bond List. Reported by Mercom on November 11. Grade B item.
Redalpine, the Zurich based venture firm, has closed its eighth early stage fund, RAC VIII, at 250 million dollars, oversubscribed and its largest early stage vehicle, taking assets under management above 1.4 billion dollars. The fund will back about 20 European companies at seed and Series A with initial cheques of 1 million to 15 million dollars; new limited partners include Aviva Investors, Flexstone Partners and KfW. Announced November 10. Grade B item.
Italy is seeking parliamentary approval to add 7.28 billion euros, about 8.17 billion dollars, to its F-35 programme, lifting total planned spending to 20.8 billion euros from the 13.5 billion euros approved in 2009, an increase of more than 50 percent. The added investment would run from next year through 2039, and the government attributes the revision to technology upgrades, stricter security requirements, inflation and exchange rates. Reuters, November 10, from a parliamentary document. Grade C item, single dispatch.
SOLV Energy, which builds and maintains utility scale solar and battery projects, has acquired Texas based ASB Energy Services, a substation foundations and civil construction contractor, for about 45 million dollars, comprising 36 million dollars in cash and 9 million dollars in SOLV Class A shares, before closing adjustments. Reported by Mercom on November 11. Grade B item.
Aquaterra Energy, the Norwich based offshore engineering company, has been bought by its existing management team in a transaction backed by HSBC. No price was disclosed. The company supplies offshore well access, intervention and abandonment services and is expanding into carbon capture and storage work. Splash247, November 11. Grade C item, single specialist source with no disclosed terms.