February 2026 – Astris raised € 5bn+ of debt for its European clients in 2025
Paris, February 2026 - In 2025, Astris advised on 16 European debt financing mandates across six countries: France, Spain, Germany, Italy, Poland, and Estonia. The facilities raised comprised 46% senior debt refinancings, 34% greenfield senior debt financings, and 20% holdco/junior debt financings.
Highlights
We led the three largest French RNW financings/refinancings in 2025: the wind and solar portfolio refinancing of JPEE, the hydro assets refinancing of Hydrocop, and the financing of C&I PV assets + storage for GreenYellow.
We advised Spanish renewable developer BRUC in the optimization of its capital structure at senior and topco level, raising in excess of € 1 bn debt in two transactions.
We structured and placed one of the largest fiber optic refinancings in Europe in 2025, the € 735 m Losange FTTH refinancing for sponsors Altitude Infrastructure, NGE Fibre and Caisse de Dépôts – with an innovative bank/bond dual tranche structure.
We closed the largest pure-merchant standalone BESS deal ever project-financed in Europe, the 200 MW/400 MWh BESS Herz 1&2 projects in Estonia, for Mirova, Corsica Sole and Evecon.
We advised Germany’s leading solar developer Enerparc in raising a sizeable, highly-structured debt facility. This complex deal was executed in under 5 months.
Arnaud Germain, Head of Europe at Astris, said: “We are proud to have supported our clients in achieving numerous successful closings in 2025. These transactions span a diverse range of countries, sectors, and debt products, demonstrating the depth and versatility of Astris's expertise across Europe.”
Fabrice Henry, Astris’s CEO, added: “In a rapidly evolving European energy landscape marked by ongoing financial market volatility, our sponsors require both creativity and rigor to optimize their financing transactions -- two hallmarks of Astris's approach. Building on our 2025 successes, we are committed to expanding our presence in the energy transition and digital infrastructure spaces in the years to come.”
