Waga Energy, a global leader in the production of renewable natural gas (RNG) from landfills, has signed a €128 million structured bank financing agreement with a 10-year maturity, in order to:

• refinance a portfolio of around twenty WAGABOX® units in operation,
• finance projects under construction in France, Spain and Italy,
• finance the development of new projects not yet contracted in Europe.

This long-term senior debt financing, set up at the level of Waga Assets 3, a wholly owned subsidiary of Waga Energy, has been arranged with a pool of MLA lenders including Crédit Agricole CIB (global coordinator and green coordinator), Société Générale (intercreditor agent, security agent, and account bank), BNP Paribas (existing hedge coordinator) and ING Bank, as well as, as MLA, Crédit Agricole Transitions & Énergies, as well as, as lenders, Arkéa Banque Entreprises et Institutionnels, Crédit Agricole Leasing & Factoring, Crédit Agricole Sud Rhône Alpes and LCL.

The transaction is structured as a Green Loan, with the proceeds to be allocated to projects contributing to climate change mitigation through the capture and recovery of gas from landfill sites.

Jean-Michel Thibaud, Group Chief Financial Officer and Deputy General Manager of Waga Energy, said: 
“This transaction marks a new milestone in the financing of Waga Energy. It is based on a dual innovation: on the one hand, a structure combining the refinancing of operating assets, the financing of projects under construction and a tranche dedicated to projects not yet contracted; on the other hand, it is our first multi-country portfolio financing, covering assets located in France, Spain and Italy. This transaction illustrates the renewed confidence of our banking partners in our business model, and strengthens our ability to accelerate the deployment of WAGABOX® in Europe.”

KeyFacts Energy: Renewable Energy news