German renewable energy firm ILOS Energy has raised €143m through a project bond supporting the construction of a 217MW photovoltaic park in Cork, Ireland
The project bond will fund the the Ballyhea project which will span around 500 acres and generate power for nearly 40,000 homes.
The agreement was signed by Danske Bank, which acted as arranger, underwriter, co-ordinating bookrunner and account bank.
ILOS Energy is majority owned by AXA Investment Managers which has acquired a 60% stake in the firm earlier this year. The energy firm is also building a 220MW solar farm in County Tipperay.
