Infranity, a Paris-based asset management firm focused on sustainable infrastructure, has committed €200 million to Blue Elephant Energy, a renewable energy company based in Hamburg, Germany. This investment will facilitate the development of one gigawatt of renewable energy capacity across Europe, aligning with the EU’s strategy to increase installed renewable energy capacity to 1,200 gigawatts by 2030.
Blue Elephant Energy operates solar parks and onshore wind farms in Western and Central Europe, as well as South America. The financing deal includes an option to increase the investment to €400 million, which would further support the company’s growth in the renewable sector. Infranity’s backing comes at a time when Europe is actively seeking to reduce reliance on fossil fuels and accelerate the shift to clean energy.
Garbiñe Unda, an investment director at Infranity, stated that the partnership with Blue Elephant Energy marks a progressive step in promoting sustainable energy solutions throughout Europe. This collaboration underscores the pivotal role of renewable energy in combating climate change.
Since its inception in 2016, Blue Elephant Energy has developed a renewable energy portfolio totaling 1,730 megawatts. The company also has a robust pipeline of around 9.5 gigawatts in solar, wind, and energy storage projects. By the end of 2022, its operations had prevented over 3.7 million tonnes of CO₂ emissions.
Dorothee Klinkmann, head of corporate and project finance at Blue Elephant Energy, noted that this partnership will strengthen the company’s financial structure and unlock new growth opportunities. She expressed optimism about the momentum this financing will create, enabling Blue Elephant to execute its growth strategy more effectively and achieve its long-term objectives.
Infranity launched a €3 billion debt strategy focused on Europe in September, dedicating half of its portfolio to climate solutions. This investment in Blue Elephant Energy reflects a broader trend of increasing financial support for renewable energy projects in Europe, which are essential for meeting ambitious climate targets and enhancing energy independence.
