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Obton and NordLB complete third rooftop solar transaction in France

News   •   Nov 21, 2016 10:30 CET

In a prompt and effective 4 months period, Obton A/S and NORD/LB have deployed a total debt volume of EUR 48 M, proving the efficiency and strength of the partnership.

Obton and NORD/LB Norddeutsche Landesbank finalizes the financing for the acquisition and operation of the third roof-mounted solar power portfolio in France this year. The overall financing volume for all three projects amounts to EUR 48 M.

SPEED IS KEY IN FAST MOVING PV MARKET

To reach financial closure of three solar transactions in just 4 months in today’s market requires speed and dedication, which characterize the collaboration between Obton A/S and NORD/LB.

"We are extremely pleased with the collaboration with NORD/LB in the connection with the acquisition financing of these three projects. We believe that the parties have developed a very efficient process for how to structure transactions, which fits well with the fast moving PV market. I was particularly impressed by NORD’s creativeness and support during the transaction“, says Mikkel Berthelsen, Chief Legal Officer at Obton A/S.

Andreas Duckert, Chief Finance Officer at Obton A/S adds “that it has been a true pleasure to work with NORD on the deals and he is convinced that more acquisition financings will follow from the partnership in the not so distant future, as both parties are very active in the markets and are looking for more deals to be made”.