Renewables project developer and services company MaxSolar has secured 410 million euros ($458 million) in financing for its solar projects in Germany, the company said on July 14.
The financing facility is provided by institutional investors Infranity, I Squared Capital and France's Rivage Investment, and will be divided into an initial tranche of 165 million euros and a second tranche of 245 million euros.
The funds will enable the company to install 2 gigawatts (GW) of solar projects from its current 6.5 GW projects pipeline and help in recruiting international talent for its five locations in Germany, the company added.
"The financing facility will play a significant role in enabling our next growth phase by helping us materially scale our offering," MaxSolar Chief Executive Christoph Strasser said in a statement.
MaxSolar, founded in 2009, provides planning, construction and operation of photovoltaic systems, energy storage systems and charging infrastructure in addition to wind and heating solutions in integrated systems.
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