NextGen independent power producer Nadara has secured around €1.2bn ($1.36bn) in pan-European platform refinancing for its portfolio of renewable energy projects.

The financing encompasses 47 wind and solar photovoltaic (PV) plants with a combined installed capacity of 1.5GW, located across Finland, France, Italy, Norway, Spain, Sweden and the UK.

According to Nadara, the transaction consolidates and refinances its diverse portfolio of operating renewable assets, creating a scalable platform to support continued growth.

The refinancing strengthens the company’s financial flexibility and increases its capacity to expand its multi-technology portfolio.

The assets included in this transaction comprise 34 onshore wind farms and 13 solar PV plants.

The portfolio benefits from both geographic and technological diversity, contracted revenues, and the company’s integrated energy management and operational expertise.

Nadara CFO Paolo Rundeddu said: “This refinancing is a landmark moment for Nadara as we move into our next phase of growth, two years post-merger.

“Through our platform refinancing, we are transforming mature renewable projects into a source of funding for future projects.

“By unlocking capital from established assets into the next generation of clean energy projects, Nadara is playing a leading role in accelerating Europe's drive toward net zero and a more electrified economy.”

Nadara said that the new financing framework brings a single structure to its large and varied portfolio, enhancing its ability to integrate additional assets and pursue opportunities such as repowering, hybridisation and battery storage.

It also highlighted that the transaction aims to accelerate the deployment of new renewable capacity and secure long-term asset growth.

A group of commercial lenders supplied the refinancing.

The company stated that the transaction represents a notable step in its development and further strengthens its role within the European independent power producer sector.

Nadara corporate finance and treasury head Simone Volpi said: “Through this platform refinancing, we are transforming mature renewable projects into a catalyst for future growth.

“By unlocking capital from established assets and reinvesting it into the next generation of clean energy projects, we are creating a virtuous cycle that accelerates the energy transition while generating long-term value for our stakeholders.”