Otovo is pleased to announce the Company has secured committed financing for EUR 50 million (approx. NOK 550 million) revolving credit facility (“RCF”) with EUR 50 million (approx. NOK 550 million) uncommitted accordion option from a bank consortium consisting of DNB and Spb1 SR-Bank. The financing facility will replace the Company’s existing facility and enable future growth in the subscrip
Otovo completes launches in Belgium, Netherlands, Switzerland
The launches in Belgium, Netherlands and Switzerland in the fourth quarter of 2022 follow the entries into Portugal, Austria and the UK earlier in the year. Otovo has now sold solar projects and signed up installers in 13 countries, the last 6 of which were all launched in 2022. Otovo’s CEO, Andreas Thorsheim remarks:
With these
Update on financing of Otovo’s subscription assets
Otovo has sold its stake in Brazilian solar platform Holu to Gera Brasil Tecnologia Ltda. (Gera), the majority shareholder of the joint venture. The partnership between will continue by Holu using Otovo’s Cloud software as a key part of its business model.