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Proventus backs Better Energy's solar growth with EUR 80m

Solar panels in Denmark. Photo by: Better Energy (www.betterenergyworld.com).

April 25 (Renewables Now) - Danish solar power producer Better Energy A/S has obtained EUR 80 million (USD 89.2m) in debt from Swedish credit investor Proventus Capital Partners to support the growth of its solar portfolio.

The multi-year credit facility will enable Better Energy to enhance its operations and speed up the green transition in certain target markets by building new solar parks. It expects its portfolio in the coming years to exceed 1 GW, according to a press release published on Tuesday.

“We have a clearly defined capital structure strategy and development roadmap for the next few years,” said Annette Nylander, Better Energy EVP Capital & Strategy, adding that the Proventus deal will allow the company to move along its strategic growth plan.

Meanwhile, Gabriella Sahlman, investment director at Proventus, said that the solar group is “well positioned in the rapidly growing solar power industry” and plays a critical role in the transition towards green energy.

(EUR 1.0 = USD 1.115)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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