Linklaters advises Solas on the structuring of a green financing of up to EUR 30 million for neoom AG for decentralised sustainable energy projects across Germany and Austria
Linklaters has advised Solas Sustainable Energy Fund ICAV (SSEF) and Solas Capital AG on a framework agreement and the structuring of a financing with the Austrian green tech scale-up neoom AG. The initial financing in the total amount of EUR 20 million enables neoom to offer a fully financed turnkey solution for the implementation, installation and management of decentralised energy projects for consumers and corporates in Austria and Germany via instalment purchase agreements primarily including decentralised solar, charging and storage systems.
The partnership between SSEF and neoom AG is a prime example of how strategic collaboration can bridge the gap between institutional investment and energy efficiency projects. It also expands SSEF's expertise in structuring tailored financing agreements with European Energy Service Companies (ESCOs), further cementing its role as a specialised finance provider.
SSEF (advised by Solas Capital AG as an investment advisor) is an SFDR Article 9 fund that provides innovative financing solutions to support projects that are in line with the European Investment Bank's renewable energy and energy efficiency objectives and the EU's climate and energy security ambitions. Solas Capital AG is a financial advisor specializing in energy efficiency based in Zurich, Munich and Dublin and complies with the highest standards for sustainable investments to support the move to a carbon-neutral society.
Barbara Lauer, Partner at Linklaters, said: "We are delighted to have advised SSEF and Solas on this transformative deal with neoom AG. The financing solution crafted here is a testament to the innovative and forward-thinking approaches necessary to drive the energy sector towards a more sustainable and efficient future. It was a pleasure to work alongside SSEF and Solas Capital AG and contribute to a project that not only facilitates the growth of decentralised renewable energy infrastructures but also offers tangible economic benefits to consumers. Congratulations to neoom as well as SSEF and Solas".
SSEF/Solas and Linklaters work together on structuring sustainable investments in Europe, most recently on financing projects for the German energy efficiency service providers PAUL Tech AG and Encore Efficiency GmbH.
The Linklaters team was led by Barbara Lauer (Partner, Capital Markets, Frankfurt). The team also included Michael Deane (Managing Associate, Capital Markets, Frankfurt), Kai Erik Ackermann, Justine Watridge and Prerna Sateesh (all Associates, Capital Markets, Frankfurt). The Linklaters team was supported by the Austrian law firm Binder Grösswang, where the team was led by Stefan Tiefenthaler (Partner, Banking & Finance), alongside David Rötzer (Senior Associate, Banking & Finance) and Philipp Schermer (Associate, Banking & Finance).
