Eight Advisory supported Star Energy in successfully raising a €25 million senior secured debt facility for the funding of its geothermal development activities
Eight Advisory advised Star Energy plc., a British energy company with geothermal development activities across Europe, in successfully raising a new €25 million senior secured debt facility, provided by Kommunalkredit Austria AG.
Star Energy aims at creating lasting socio-economic benefits by transitioning its business towards low-carbon energy sources. It has been a signatory to the UN Global Compact initiative since 2021 and continues to align its operational activities with various sustainability development goals (SDGs). In order to achieve these goals, Star Energy inter alia develops geothermal projects in the UK and Croatia.
The financing agreement is intended to support Star Energy’s transition into the sustainable energy sector and represents an important milestone in Star Energy’s growth and strategic development.
Kommunalkredit Austria AG provided financing for two facilities with tenors of one and five years, and the purpose to finance its geothermal development activities.
This transaction underlines Eight Advisory’s commitment to providing debt advisory services and supporting sustainable energy projects.
Congratulations to all involved parties and big thanks to our team who provided the debt advisory services: Thomas Gummert (Partner), Mathias Köhler (Senior Manager), Marco Goretzka (Senior Manager) and Christoph Zapf (Analyst).
