News & media Cordiant Capital agrees €30 million debt facility with Monsson Group
London: Cordiant Capital, the specialist global infrastructure and real assets manager, is pleased to announce that it has closed a €30 million debt facility with independent renewable energy company, Monsson Group (Monsson), one of the most successful wind and solar project developers in Romania.
Established in 1997, Monsson is active in the development of utility-scale renewable energy projects as well as hybrid energy solutions (wind or solar + battery storage) across Romania. In addition to greenfield project development, Monsson is involved with the operation and maintenance of renewable energy projects, asset management and power trading (through Monsson Trading).
Monsson has an enviable in-country track record having developed and constructed more than 2000MW of projects in Romania and has a pipeline of several gigawatts of projects in development. In recent years the company has successfully executed several project sales with tier 1 players in the international power sector, most recently with the sale of a landmark 1000MW solar PV project.
The Cordiant debt facility will be used to support Monsson’s capital expenditure requirements for a pipeline of solar, wind and storage projects in development. The investment in Monsson is aligned with Cordiant’s energy transition strategy which seeks to leverage the once-in-a-generation opportunity to invest in Europe’s low carbon energy infrastructure, currently buffeted by two powerful trends–national energy security and climate change imperatives–both of which requiring an unprecedented amount of capital to confront and overcome.
Monsson’s ESG credentials also stood out to Cordiant with their multiple ISO certifications (9001 – Quality Management Systems, 45001 – Occupational Health and Safety Management Standard, 14001 – Environmental Management Systems) illustrative of the rigour with which Monsson’s management team assesses ESG risks and opportunities. This strong ESG focus mirrors Cordiant’s own longstanding commitment to the integration of ESG measures into its investment processes.
Emmanuel Braoudakis, Managing Director, Energy Transition Infrastructure at Cordiant Capital commented: “The importance of national renewable energy champions like Monsson cannot be overlooked if the EU is to reach its net zero goals by 2050 and we’re very pleased to be supporting the company as it embarks on this next phase of growth.”
Catalin Ciuperca, CFO, Monsson commented: “With Cordiant’s support, Monsson can accelerate the development and construction of our pipeline of solar photovoltaic, wind and storage projects and contribute in a meaningful way to energy transition and the security of Europe.”
ENDS
Media:
Brunswick Group
+44 (0) 20 7404 5959
CordiantCapital@Brunswickgroup.com
About Cordiant Capital
Cordiant is a specialist global infrastructure and real assets manager with a sector-led approach to providing growth capital solutions to promising mid-sized companies in Europe, North America and selected global markets. Since the firm’s relaunch in 2016, Cordiant–a partner-owned and -run firm–has developed a track record of exceeding mandated investment targets for our clients.
Cordiant focuses on the next generation of infrastructure and real assets: sectors (digital infrastructure, energy transition infrastructure and agriculture value chain) characterised by growth tailwinds; technological dynamism in how customers deploy the infrastructure Cordiant is financing; and a requirement for sustainability.
With a mix of managed funds offering both value-add and core strategies in equity and debt, our sector investment teams (combining seasoned industry executives with traditional private capital investors) work with investee companies to develop innovative, tailored financing solutions backed by a comprehensive understanding of the sector and demonstrated operating capabilities.
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Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Cordiant Capital and its affiliates do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Cordiant Capital and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. The forward-looking statements are not historical facts but reflect Cordiant’s current expectations regarding future results or events. These forward-looking statements are made as of the date of this document and are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although when making a forward-looking statement, Cordiant, as the case may be, believe that the assumptions inherent in this statement are reasonable, forward-looking statements are not guarantees of future performance.
