Infranity Lends €200m to Blue Elephant for 1-GW European Rollout

• Infranity grants Blue Elephant €200 m — expandable to €400 m — to finance 1 GW of new solar, wind and storage projects across Europe by 2028.

Blue Elephant Energy GmbH has secured a €200-million construction-facility loan from Paris-based infrastructure debt specialist Infranity SAS, giving the Hamburg developer the financial headroom to deliver 1 GW of new solar, wind and storage projects across Europe by 2028. The bespoke hold-company facility can be upsized by an additional €200 million, providing a potential €400-million war chest as Blue Elephant ramps up its pipeline in key markets such as Spain, Italy and Poland.

Structured and funded solely by Infranity, the deal underlines the lender’s growing appetite for energy-transition assets: it has now deployed about €2.4 billion into renewables on behalf of pension and insurance clients seeking long-dated, inflation-linked returns. “Our partnership with Blue Elephant represents a significant step forward in fostering sustainable energy solutions across Europe,” said Infranity investment director Garbiñe Unda, calling the 1-GW programme “exactly the kind of scalable platform the continent needs to hit Net-Zero.”

Founded in 2016, Blue Elephant already owns and operates 1,730 MWp of solar parks and on-shore wind farms in nine countries, from the Netherlands to Chile. Its development pipeline stands at roughly 9.5 GW, including several co-located battery projects designed to smooth intermittent output and capture merchant price spikes. By end-2024 the company’s fleet had generated more than 7.2 TWh of clean power and avoided 3.7 million tonnes of CO₂, according to its latest ESG report.

The new facility, arranged at the holding-company level, allows Blue Elephant to recycle equity more quickly: proceeds can be drawn to fund late-stage construction and then repaid once assets are refinanced at the project level or sold to institutional investors hungry for operational renewables. Dorothee Klinkmann, head of corporate and project finance, said the structure “enhances our capital efficiency and positions us to seize growth opportunities as they arise.”

Both parties framed the transaction within the EU’s REPowerEU plan, which calls for more than 1,200 GW of installed renewables by 2030—roughly double today’s level. By bringing down the cost of capital for smaller utility-scale projects, they argue, innovative debt can accelerate deployment even in an environment of higher base rates and volatile power prices. With funding now in place, Blue Elephant expects to reach financial close on its first Infranity-backed builds before year-end, breaking ground early in 2026 and firing up turbines and panels in time to support Europe’s next-decade decarbonisation push.