UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has made the first investment for its Infrastructure Debt Platform High Yield strategy (IDP HY).
The transaction comprises a EUR35 million green loan to pan-European green energy firm Pacifico Renewables, which will be used to refinance the Group’s portfolio of operational renewable energy projects. The investment rationale and focus of the transaction underlines the wider strategy of IDP HY in deploying capital in mid-market infrastructure assets, alongside a focus on sustainable investment opportunities.
Pacifico Renewables, headquartered in Grünwald, Germany, operates a diverse portfolio of generating renewable energy assets across Europe, spanning onshore wind alongside solar PV units. The company’s fully operational assets comprise a total generation capacity of 166MW, with a further 3.1GW of assets in its development pipeline, with aims of reaching 400MW capacity by 2023. IDP HY is acting as the sole lender for the loan.
The funding will be used to refinance existing debt and support the further growth of the business via the expansion of its asset base across Europe.