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Dec 7. 2022
Trailstone Group (“Trailstone”) is pleased to announce the successful signing of its €365,000,000 multicurrency secured uncommitted revolving credit facility (“Facility”) to support the growth of Trailstone’s market-leading renewable asset management business in Europe.
The Facility was arranged by ING Bank N.V., who acted as sole Arranger, Security Agent, Facility Agent and Fronting Bank. ING also acted as Sustainability Coordinator together with MUFG Bank (Europe) N.V. The structure of the Facility follows the Green Loan Principles and is supported by a consortium of banks including Credit Suisse (Switzerland) Ltd., ING, MUFG Bank (Europe) N.V., Rabobank, Société Générale, and Tokio Marine HCC.
The Facility will refinance Trailstone’s existing €175,000,000 multicurrency secured uncommitted revolving credit facility and be used to support the expansion of Trailstone’s renewable asset management business across Europe. Trailstone’s AI-driven renewable asset management platform utilizes robust meteorological and market data to intelligently predict renewable supply and market demand to increase revenues for renewable asset owners and managers and encourage continued investment in renewable energy development.
The Facility, which launched at €250,000,000, was significantly oversubscribed, evidencing the strength of the company based on strong demand for Trailstone’s energy risk management and optimization services. Trailstone’s recent establishment of an office in Sligo, Ireland, acquisition of meteo*swift and expansion into the Japanese power market are also indicative of the company’s rapid and continued growth on a global scale.
“We are pleased to have renewed and increased our credit facility with the support of our fantastic consortium,” said John Redpath, Chief Executive Officer of Trailstone. “The fact the Facility was oversubscribed is a reflection of the increased interest amongst the financing community to support the growth of our business. Our relationship with the lenders goes from strength to strength and we really value their support in helping us make the energy transition a reality.”
Trailstone is a global renewable energy trading and asset management firm that provides risk management and energy optimization to improve production and financial returns. The company offers a fully automated end-to-end renewable power management platform, backed by a successful track record in energy trading. Trailstone’s proprietary technology leverages data analytics and meteorology to offer robust modeling, forecasting and trading capabilities to its clients. Trailstone was founded in April 2013. To date, Trailstone has helped optimize more than 15,000 MWs of renewable energy assets and operates in 15 countries.
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