Mandated Lead Arranger in €1.8bn Financing for NeXtWind's German Onshore Wind Platform

This landmark €1.8 billionfinancing will support NeXtWind's onshore wind platform in Germany and is Crédit Agricole CIB’s first pure-play repowering deal globally. The transaction represents a milestone for Germany's renewable energy sector and marks the largest internationally syndicated debt financing for a German onshore wind platform to date. The 5-year financing represents a pivot from single-asset project finance to a scalable, platform-level solution, leveraging portfolio efficiencies, streamlining funding needs, accelerating CAPEX deployment and enhancing lender diversification.

NeXtWind is a leading developer and operator of onshore wind assets in Germany, with 500 MW of installed capacity across 37 sites and a development portfolio exceeding 1.9 GW. The company is backed by global investors including Sandbrook, PSP Investments, and IMCO, and targets over 1GW installed capacity by 2028 and ultimately aims to deliver over 3GW of integrated Clean Energy Hubs encompassing co-located PV and battery storage. NeXtWind's repowering model entails replacing older turbines with modern, more efficient units offering 3 to 4 times higher capacity, leveraging prime locations with proven wind resource, while upgrading or extending existing grid connections, infrastructure, permits and contractual arrangements, and securing long-term subsidies under Germany’s EEG scheme.

Originally structured at €1.4 billion, the financing was upsized by €400 million following strong demand from more than 15 international financial institutions across North America, Asia, and Europe. The syndicated debt package comprises five core facilities with a 5-year tenor and extension options, including a TSA Guarantee Facility, Bid Bond Facility, Revolving Credit Facility, VAT Facility, and CAPEX & Acquisition Facility, with an accordion option of up to €900 million for further portfolio growth.

NeXtWind’s inaugural syndicated financing is a key credential for Crédit Agricole CIB as it aligns with our diversification strategy in renewable energy infrastructure and demonstrates our appetite for complex, large-scale platform financings. This strategic opportunity establishes Crédit Agricole CIB's foothold both in the German onshore wind market and the repowering segment through a leading platform with proven expertise and robust pipeline. The transaction also strengthens Crédit Agricole CIB's position as a key partner in Europe's energy transition and demonstrates our commitment to supporting scalable renewable energy platforms. By financing NeXtWind's repowering model, the Bank contributes to maximising renewable generation on existing sites, supporting Germany's decarbonisation targets while optimising onshore land use.