Fluence Secures $50 Million BOOT Project Financing Facility

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Fluence Secures $50 Million BOOT Project Financing Facility

Fluence Corporation Limited is pleased to announce that it has secured a US $50 million non-recourse debt facility for project financing of Build, Own, Operate & Transfer ( BOOT ) projects. 

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Image Source: Fluence

The facility is provided by a leading US-based sustainable infrastructure investment firm with extensive experience in financing infrastructure and renewable energy projects. Fluence will have access to this facility on a project-by-project basis for 3 years for BOOT projects around the globe. The facility enhances Fluence’s ability to close project finance contracts rapidly, which will further increase Fluence’s commitment to building a pipeline of recurring revenue projects. Most notably, this single facility may be deployed across projects in different geographies, thus substantially streamlining one of the time-consuming steps in project development.

Commenting on the new debt facility, Fluence CFO Francesco Fragasso said: “This is a major step forward for Fluence, which will now have readily available access to the funding needed to undertake projects that utilize our proven expertise in project execution, particularly for our fleet of smart packaged systems. The recurring revenue from these projects will further strengthen our balance sheet, reduce our cash investments, and allow us to continue to focus on the growth strategy for our products and solutions. Lastly, this facility provides a path to realizing our often-stated goal to drive growth for recurring revenues.”

Source: Fluence Newsroom

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