07
Nov
Panel discussion: Debt financing – shifting strategies to seek new opportunities
During the past few months, lenders have provided billions of euros for gigafactories across Europe, and more debt is being raised for data centres, large-scale hydrogen projects and fixed and floating offshore wind farms.
Infralogic’s data show that for 2024, debt volumes are set to be likely to be in line with the past three years, in terms of greenfield and acquisition financings and refinancings. The recent changes in interest rates decided by central banks might have affected investment strategies and the type of debt deals that borrowers are looking for, but the debt markets have remained busy.
In the UK, the involvement of the National Wealth Fund, formerly called UKIB, continues to be part of the equation for both new and more “traditional” assets, as in the case of National Wealth Fund planning guarantees for fibre companies raising debt. At the same time, acquisition loans and refinancings for sustainable transport and renewables have continued in high numbers, according to Infralogic data.
- How are the fluctuations in interest rates impacting investment decisions, and what is the current market sentiment?
- How is the pipeline for infrastructure financiers shifting? How bankable are new energy transition deals? Is the digital infrastructure sector set to continue offering large ticket deals as seen in recent years?
- What are the challenges for borrowers seeking to refinance infrastructure assets? What’s the appetite for big underwriting cheques in acquisition financing?
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SpeakersSteve Lomas Managing Director of Banking and Investments National Wealth Fund
Bart White Head of Energy, Structured Finance EMEA Santander
Douglas Pinder Director & Head of Infrastructure Debt Advisory Stifel
Ian Catterall Head of Project Finance Advisory Howden
Marc Schmitz Head of renewables and infrastructure project finance Europe Rabobank
Stefano Berra Deputy Managing Editor, EMEA Infralogic
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Steve has been involved in financing global infrastructure projects for over 25 years both in the private and public sector.
Steve joined HM Treasury in 2010 and helped establish the Infrastructure Finance Unit before becoming involved in the set-up of the Green Investment Bank. In 2012 the team established the £40 billion UK Guarantees Scheme (UKGS) which issued over £4billion of guarantees.
During the last 3 years Steve has played a leading role in the set-up and launch of the UK Infrastructure Bank being one of the first to join, Co-Heading the Banking Team during the first year of operations.
Bart runs Santander's Energy financing activity across Europe, Middle East and parts of Latin-America. The team of over 50 professionals is primarily focused on financing and financing advisory of Renewables where Santander had a leading presence (#1 in 2023 Europe) but also Hydrogen, CCS, BESS, Biogas, EfW, Smart Meters and other tangential subsectors. Previously Bart ran Santander's UK and Nordics structured finance business, and before that Santander's European structured finance advisory practise. Bart previously worked at UBS leading their Utilities and Infrastructure Finance business, and RBS. Bart holds an MA in Physics from the University of Oxford.
Profile to follow shortly.
Marc has been working in the renewable energy sector for almost 30 years and has been a part of the project finance team for 25 years. Before working for Rabobank he was financial advisor to the executive board of NUON (currently Vattenfall). Marc started his career within Rabobank team as an Associate Director and is currently Managing Director and heading the European Renewable Energy & Infrastructure Project finance team. During his career Marc has been closely involved in and structured many renewable energy transactions. Rabobank is a front runner in financing new technologies and funding structures, over the years Marc has played an important role in these developments. In 2006 Rabobank financed the first offshore wind farm. Currently we are a front runner in financing battery projects and we are moving the boundaries where it comes to financing projects with power purchase agreements or even fully merchant financings. Next to our existing business in The Netherlands, Belgium, Germany, UK, Ireland, the Nordics, France, Italy and Spain, we have further expanded the business to new countries such as Poland and Portugal. Furthermore, we have broadened the technologies we bank from on- and offshore wind, solar, battery storage to inter alia data centers, EV battery factories, green steel production and other e-mobility transactions. This year we have closed 45 transactions in Europe and as a result of this, Rabobank Project Finance was ranked 3rd commercial bank in the worldwide project financing BNEF league table in Q2 2024. Marc’s entrepreneurial character is further showcased by the recent sale of a ground service equipment company in the aviation industry to a large investment fund with the aim to become a European market leader. Marc, his brother as CEO and sister set up this company 25years ago.