Baseload Capital Sweden AB (“Baseload”) is pleased to announce that it has signed a €25 million convertible term facility agreement (the “Facility”) with SDCL Energy Efficiency Income Trust plc (“SEEIT”).
The Facility will be used to re-finance Baseload’s operational assets and assets in construction or late-stage development as well as to finance future pipeline projects. The Facility can be utilized during the availability period and has a 10-year tenor after each draw down. The funding is eligible when the bond is redeemed.
Alexander Helling, the CEO of Baseload Capital says, “We’re extremely excited because this Facility enables Baseload to roll out projects faster and provide project financing to assets under development and construction. It is optimally structured for a company like Baseload with a portfolio of geothermal assets in various development phases. SEEIT is an esteemed investment company listed on the London Stock Exchange and a constituent of the FTSE 250 with a strong focus on sustainability and ESG. We are very happy to have SDCL as our important financing partner.”