Waga Energy secures refinancing for four French WAGABOX units
France-headed landfill gas (LFG) to renewable natural gas (RNG) technology provider Waga Energy SA has announced that it has signed a EUR 12 million bank loan with BNP Paribas and the Crédit Agricole Group to refinance four WAGABOX units in operation in France.
This non-recourse loan provided by BNP Paribas and the Crédit Agricole Group through Crédit Agricole Transitions & Énergies, the Crédit Agricole Sud Rhône Alpes Regional Bank, and LCL was taken out by Waga Assets 2, a 100 percent-owned subsidiary of Waga Energy.
Waga Assets 2 owns the units commissioned at Montois-La-Montagne, Moselle region; Éteignières, Ardennes region; Cusset, Allier region; and Granges, Saône-et-Loire region.
The full amount was drawn on the date the loan was signed and will be used to repay the construction debt for the four units, as well as to strengthen Waga Energy Group’s cash position and to invest in new RNG production projects in France and abroad.
Since the beginning of 2024, Waga Energy has secured EUR 175 million of debt under conditions that demonstrate the banks’ confidence in our strategy and business model, which generates regular and predictable cash flows. We would like to express our sincerest thanks to BNP Paribas and the Crédit Agricole Group for their participation in this project financing and their long-standing support, commented Jean-Michel Thibaud, Deputy CEO and CFO of Waga Energy.
Hogan Lovells acted as legal counsel to Waga Energy, while De Gaulle Fleurance & Associés acted as legal counsel to the lenders. Artelia Consulting acted as technical advisor to the banks.
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