Debt
Solar / hybridisation Closed
WHAT WE DO - TRANSACTIONS
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73 transactions found
Debt
Solar / hybridisation Closed
Green Giraffe Advisory acted as exclusive financial advisor to Envusa Energy on the successful close of its first utility-scale, behind-the-meter solar PV project.
Located at Kumba Iron Ore’s Sishen Mine near Kathu in the Northern Cape, the 63 MW AC project turns previously disturbed mining land into productive, energy-generating infrastructure. All electricity generated will be sold directly to Sishen Mine through Envusa Energy’s trading company, strengthening the mine’s energy security and lowering its carbon footprint.
Built across roughly 100 hectares on a 20-storey-high rehabilitated waste rock dump, the project required clever engineering to address genuine geotechnical complexity, including adjustable PV structures and a mobile adjustable substation to manage ground settlement over time.
The benefits reach beyond the fence line, too. The Sishen Iron Ore Company-Community Development Trust holds a 10% interest, ensuring host communities share directly in the dividends, with value reinvested into jobs, education, healthcare, skills and sustainable livelihoods.
This close sets an important precedent, paving the way for future project-financed, utility-scale behind-the-meter battery storage to support South Africa’s grid needs.
Equity
Solar / hybridisation Closed
Green Giraffe advised SunLib on a EUR 25 M corporate fundraising alongside Épopée Gestion
SunLib is a fast-growing French solar company offering turnkey rooftop photovoltaic installations through a long-term subscription model, enabling households, businesses and local authorities to access solar energy without upfront investment.
The transaction strengthens SunLib’s financial capacity to accelerate the national rollout of its platform, supporting its ambition to equip up to 100,000 subscribers by 2030.
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Solar / hybridisation Closed
Green Giraffe Advisory supported Trianel in the successful sale of Brandenburg, a 70.4 MWp solar PV project located in Wiesenhagen, Germany, to Nuveen.
In addition to having achieved COD in 2025, the project stands out as a highly attractive investment opportunity given its size and the fact that it managed to secure an EEG award for almost its entire capacity.
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Solar / hybridisation Closed
Green Giraffe Advisory assisted Melvan, a French multi-technology renewable energy producer and developer, in opening its capital to a consortium of investors composed of Bpifrance, IDIA Capital Investissement and a pool of investors from the Crédit Agricole group, as well as OCCTE.
Green Giraffe Advisory (GGA) acted as exclusive financial advisor to Melvan, an Orléans-headquartered company who designs, develops, builds, finances and operates renewable energy production plants, on its EUR 25 M fundraising.
Founded in 2020 by a trio of experienced executives, each with more than 20 years of sector expertise, Melvan has built an agile organization supported by a team of 50 committed employees, with a predominant focus on solar PV while integrating other complementary technologies. With around ten local offices, the company relies on an innovative and territorialized approach to offer sustainable energy solutions with strong environmental and societal impact.
The fundraising has been provided by a consortium of active and specialized financial partners, sharing its vision and commitments in favor of the energy transition. The consortium is composed of IDIA Capital Investissement accompanied by regional investors from the Crédit Agricole group (SOFILARO, Centre Loire Expansion, Val de France Energies), Bpifrance, through its Environmental Impact Funds team, and OCCTE, a management company based in Occitanie, through its FPCI OCCTE OCCIGEN investment fund.
This significant fundraising will support Melvan delivering its ca. 2 GW development pipeline, including 750 MW in advanced phase covering the entire French territory.
GGA advised on the fundraising process including support in structuring the transaction, preparing the information package and the financial model, and negotiations with investors up until signing of the investment agreement. Alongside Green Giraffe, Jeantet (legal), Syneria (technical), and KMPG (tax) advised on Melvan’s side.
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Solar / hybridisation Closed
Green Giraffe Advisory advised an undisclosed developer on the successful divestment of a ~50 MW solar PV portfolio.
Green Giraffe Advisory served as the exclusive financial advisor to an undisclosed developer in the successful sale of a solar PV portfolio totaling approximately 50 MW. The portfolio consists of late-stage development and ready-to-build (RtB) assets located across various regions in Japan.
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Solar / hybridisation Closed
We advised the Clean Energy Group of COFRA on their finance strategy as part of its mission to “amaze customers and remain a force for good” in the energy transition.
A key business of COFRA is Sunrock, a prominent solar PV and BESS developer. Sunrock has developed ca. 500 MWp of commercial rooftop solar in its core markets the Netherlands, Germany, and France. In parallel, it developed ancillary services such as energy trading and operations-of-assets in-house.
During our engagement, the business cases of COFRA’s Clean Energy Group were evaluated in line with the client-centric approach in the C&I sector. A strategic report was delivered, substantiated by a future-proof financial model to quantify the investment requirements. The tool enables COFRA to assess different funding strategies and compare business and investment parameters.
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Solar / hybridisation Closed
Project Toha is the sale of a 25 MW solar PV farm in Almere, combined with a position suitable for a 20 MW / 40 MWh battery development, developed by Solar Proactive. They sold 100% of the shares in the project to Novar. Green Giraffe was mandated as an exclusive financial advisor to lead the transaction.
Green Giraffe provided sell-side transaction support as well as development support where required. Tasks included:
“Zonnepark Almere A27”, located along the A27-highway in the province of Flevoland, will contribute significantly to the municipality’s goal to reach energy neutrality by 2030. The project will deliver renewable electricity to 7,500 households.
Debt
Solar / hybridisation Closed
Green Giraffe Advisory advised Photosol on refinancing its existing senior debt facility and DSRF, allowing the switch of a part of the portfolio's offtaker from CfDs to cPPAs.
Green Giraffe Advisory was mandated as exclusive financial advisor for the Maido portfolio by Photosol, a tier-1 developer and IPP of solar PV assets in France, with solid success rate in CRE auctions and a high growth potential.
Maido is a diversified brownfield portfolio of 112 MWp across 9 solar PV assets (ground mounted and canopy) located in France, gradually commissioned between Jun-2020 to Oct-2022.
Green Giraffe Advisory led the refinancing process of the existing non-recourse senior debt at HoldCo level with the objective to switch part of the portfolio from CfDs to cPPAs Photosol had secured, tailor the new debt repayment profile to the revised cash flow profile and to maximize leverage, including making an exceptional distribution at closing.
After sounding a broad group of potential lenders, a EUR 103.4 M financing was secured with CEPAC and La Banque Postale with very competitive conditions. The transaction closed on 27th May 2024.
Debt
Onshore / repowering Closed
Envusa Energy: one of the first RE traders in South Africa. “Envusa Energy is a jointly owned renewable energy venture between Anglo American, a globally diversified mining company with a strong presence in Southern Africa, and EDF Renewables (South Africa) a leading renewable energy IPP in the region. Envusa Energy’s intrinsic objective is to decarbonise Anglo American operations across Southern Africa. The company has recently closed the first leg of a development of up to 5 GW of clean energy projects by 2030. Green Giraffe Advisory was acting as sole financial advisor for the debt raising of the 520 MW portfolio.
Debt
Onshore / repowering Closed
GGA advised on the debt and equity raise for the hybrid Oya project in South Africa.
Green Giraffe Advisory was mandated as exclusive financial advisor to raise debt and equity for the Oya project. This was following on from its support in the successful bid in the Risk Mitigation Independent Power Producers Programme (RMIPPPP), where Oya was awarded a 20-year PPA with Eskom in 2021.
The Oya project is a 128 MW co-located hybrid project straddling the Western and Northern Cape provinces in South Africa that consists of a mix of onshore wind turbines (86 MW), bi-facial solar PV arrays (155 MWp), lithium-ion battery storage (94MW/242MWh) and a unique hybrid controller supplying dispatchable baseload power during daytime hours, thus making it one of the biggest hybrid projects of its kind in the world. The landmark project will be instrumental in South Africa’s transition to a renewable energy power mix and in reducing load shedding.
Green Giraffe Advisory is proud to have supported this complex and innovative Oya project and its leading sponsors G7 Renewable Energies, a local developer, and Engie, a multinational utility company, since the tender bid submission phase in 2020 and to have delivered its full suite of fundraising services all the way up to financial close achieved on February 13th 2024.
Equity was raised from Engie and Meadows Energy and Perpetua as B-BBEE investors and a highly competitive debt package was raised from RMB (as MLA), DBSA, OMAI, Sanlam and Stanlib.
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Solar / hybridisation Closed
Financial modelling and buy-side support for GreenVolt Power's successful acquisition of the Alamogordo 125 MW PV Solar and 50 MW Storage project in New Mexico
Greenvolt Power acquired an early-stage 125 MW Solar plus 50 MW Storage project from developer Solariant Capital. Green Giraffe provided financial modelling services and buy-side advisory to support the closing of the transaction.
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Solar / hybridisation Closed
Green Giraffe Advisory advised the shareholders of solargrün on the divestment of a leading German solar PV development platform
Green Giraffe Advisory has supported the shareholders of solargrün in the 100% sale of their stakes in solargrün GmbH, including the team and the pipeline.
With a team of 21 professionals and a pipeline of more than 100 projects and close to 3 GWp of capacity, solargrün was acquired by LichtBlick, a 100% subsidiary of the Netherland based Eneco Group.
The investment by LichtBlick offers the opportunity to accelerate solargrün’s growth to make it a leading development platform in the solar PV market in Germany.
Green Giraffe acted as sole financial advisor to the shareholders of solargrün in this transaction.
Björn Meyer, Managing Director at solargün GmbH said: “Green Giraffe has been an invaluable financial advisor in our journey towards the partnership with LichtBlick. Their comprehensive advisory approach and understanding of the development business were pivotal in successfully concluding the transaction. Célia, Freek, Hicham and Kai showcased strong knowledge and dedication, advising us on structuring the deal, bringing it to the market and flawlessly executing it. We are thankful for their expertise and unwavering support.”
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Onshore / repowering Closed
Green Giraffe acted as exclusive financial advisor to Innergex Renewable Energy Inc. in the formation of a long-term partnership with Crédit Agricole Assurances for a 30% interest in Innergex France as a platform.
Innergex France has 324 MW operational onshore wind as well as a 9MW/9MWh battery storage facility, as well as high growth potential of c.1 GW of onshore wind and solar pipeline of different development stages.
Crédit Agricole Assurances, in connection with Crédit Agricole Centre-Est, have taken a 30% minority interest in Innergex France. The acquisition strengthens Crédit Agricole’s position in the energy transition by partnering with a prime player in the French renewable energy market.
This represents a c.EUR 128 million investment to fund future growth for an enterprise value of Innergex France estimated at EUR 710 million including EUR 22 million of cash on hand.
Debt
Solar / hybridisation Closed
Green Giraffe supported Akuo in the fundraising for their portfolio of Portuguese solar PV projects.
The portfolio benefits from feed-in tariffs which were awarded in the solar power auction of the Portuguese government in 2019, and had a total capacity of approximately 450 MWp. Project Santas was the first project to reach financial close in 2023 and has a total capacity of ca. 180 MWp. Construction of the project started in Q2 2023 by GenSun, Siemens Energy and Painhas, with first power to grid planned for Q1 2024. The second project that started construction is project Margalha, which has a capacity of 147 MWp, and is located in the Gavião area of Alentejo, a region renowned for its abundant sunshine.
Debt
Onshore / repowering Closed
Green Giraffe supported Northland Power (Northland) with the non-recourse debt refinancing and restructuring of its portfolio of assets in Spain by seconding members of its Spain team to Northland
The portfolio, acquired in 2021, includes 33 operating assets regulated under the RD 413/2014. The portfolio comprises onshore wind (435 MW), solar PV (66 MW), and concentrated solar (50 MW) located throughout Spain.
Northland Power successfully arranged a EUR 690 M senior debt package, which closed on November 3rd, 2022.
The new senior financing, provided by Caixa Bank, replaced the existing senior debt structured at the separate SPVs level with a single holding level financing. The transaction benefits from the technological diversification of the portfolio and allowed an adjustment of the debt repayment profile in line with the impacts from the current high pool prices on regulated assets in Spain to improve cash distributions from the portfolio.
Green Giraffe supported the Northland Power team with debt restructuring considerations, financial modelling, due diligence management as well as commercial support with the negotiation of the financial documentation up to financial close.
Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables, efficient natural gas energy, as well as supplying energy through a regulated utility.
Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in 3.0GW (net 2.6GW) of operating capacity. The company also has a significant inventory of projects in construction and in various stages of development encompassing over 14GW of potential capacity. Publicly traded since 1997, Northland’s common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively.
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Solar / hybridisation Closed
Green Giraffe Advisory advised WV International B.V. on the full divestment of CME S.A.
CME S.A., the North and West African development platform of WV International B.V. (WVI) was acquired by Vinci Concessions.
CME is an independent renewable energy developer currently developing projects in Morocco and Senegal. The portfolio consists of about 1.4 GW of greenfield projects in different development stages, predominantly onshore wind but the portfolio also includes solar and pumped storage hydro projects.
The investment will help support the development of CME’s pipeline and ready-to-build assets across North and West Africa. Furthermore, the partnership offers an opportunity to accelerate CME’s growth towards becoming a leading renewable energy platform across the region.
Green Giraffe Advisory acted as sole financial advisor to the shareholders of WVI in this transaction. We supported the WVI team through coordinating the full M&A process up to financial close, financial modelling, due diligence management, commercial support and negotiation of the transaction agreements.
WVI is a Dutch renewable energies developer present in Europe with activities in the Netherlands and Southeastern Europe. The company was founded in 2002 in The Netherlands and Belgium as Windvision. Its European activities in Belgium, France and Spain were sold in 2020 to BlackRock, and the remaining activity was developed under the newly created entity called WV International.
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Solar / hybridisation Closed
Green Giraffe advised WindSpace on the Expansion project to raise corporate equity in exchange for a minority stake in the company
WindSpace has been developing wind and solar projects in Europe since 2006, with a significant pipeline of renewable energy projects across the Nordics, Eastern Europe and the Balkans.
Green Giraffe advised WindSpace in finding an equity investor to support its future ambitions and fund the growth of the company.
Triodos Energy Transition Europe Fund has been at the forefront of sustainability and, through the acquisition of a minority stake in WindSpace, it can now expand in markets that are complementary to the fund.
Debt
Solar / hybridisation Closed
Green Giraffe advised Sunvest Ontwikkeling, a tier-1 renewable energy developer and independent power producer in the Netherlands, Belgium and France on raising mezzanine debt for a c. 420 MW portfolio of 16 solar PV projects in development, construction and operation
Green Giraffe has successfully advised Sunvest Ontwikkeling, a tier-1 renewable energy developer and independent power producer in the Netherlands, Belgium and France on the mezzanine financing raise.
Sunvest successfully raised EUR 25 M subordinated debt at holdco level for a c. 420 MW portfolio of 16 solar PV projects, either in final development stage, under construction or in operation. The financing provides financial resources for Sunvest’s pipeline of projects, without diluting Sunvest’s share ownership in its plants, and adds high-quality renewable energy assets to Sienna Private Credit portfolio.
Sunvest Ontwikelling B.V. is a joint venture between ProfiNRG, a technical EPC and O&M provider, and Green Tower, a proprietary investment vehicle focused on the energy transition sectors.
Sienna Private Credit (formerly Acofi Gestion) is an AIFM portfolio management company, approved by the AMF since 1997, and since 2022 an entity of Sienna Investment Managers group, alternative investments hub specialized in real assets and private equity through investments in non-listed companies.
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Solar / hybridisation Closed
Green Giraffe advised Solar Konzept International’s shareholders on the full disinvestment of Solar Konzept Greece
Green Giraffe has supported the shareholders of Solar Konzept International (SKI) in the 100% sale of their stakes in SKI, including the assets and the team.
With an advanced pipeline of 800 MW, SKI’s 100%-owned subsidiary in Greece (Solar Konzept Greece) was sold to Eni, through Eni gas e luce.
Green Giraffe advised on the sale process including support in defining the adequate sale strategy, preparing the due diligence material, the information package and the financial model, and assistance in negotiations with investors up until signing of the SPA.
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Solar / hybridisation Closed
Green Giraffe advised Solar Konzept International’s shareholders on the full divestment of their stakes in Solar Konzept Italia
Green Giraffe supported the shareholders of Solar Konzept International (SKI) in the 100% sale of their stake in SKI, including the assets and the team.
SKI’s 100%-owned subsidiary in Italy (Solar Konzept Italia) was sold to Shell.
Green Giraffe advised on the sale process including support in defining the adequate sale strategy, preparing the due diligence material, the information package and the financial model, and assistance in negotiations with investors up until signing of the SPA.
Alongside Green Giraffe, Heuking and Chiomenti (legal) advised on the Seller’s side.
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