We helped promising Geothermal scale-up "Eavor" raise non-recourse debt for the construction of their first ever commercial scale project in Geretsried, DE
Green Giraffe was mandated as sole financial advisor to lead the promising Canadian Geothermal start-up Eavor to secure non-recourse debt for its first ever commercial scale Eavor-Loop project. More notably, Green Giraffe steered the full value chain of debt raise from financial modeling, bank sounding, coordination of due diligence advisors, lender due diligence, and negotiation of the financial documentation, to achieve a first-of-its-kind non-recourse transaction in the geothermal industry. Lenders included multilaterals European Investment Bank (EIB) and Japan Bank for International Cooperation (JBIC), as well as commercial lenders ING and Mizuho covered by the Nippon Export and Investment Insurance (NEXI). In addition, Green Giraffe supported Eavor in finalising the equity raise for the project seeing them secure equity injection from Chubu Electric Power Co. and others