Hamburg Commercial Bank refinances French energy specialist IDEX
Hamburg, August 30, 2022 - Hamburg Commercial Bank (HCOB) has participated in the Incremental Facility (Accordion) of EUR 200 million for the French energy specialist Idex. As an energy service provider, Idex specializes, among other things, in the operation of one of the largest French district heating networks and uses mainly renewable energies for this purpose.
"We are further strengthening our already very good business relationship with Idex through this transaction," said Inka Klinger, Head of Project Finance at Hamburg Commercial Bank. "We are supporting Idex in the realization of this project that further drives the energy transition and indirectly contributes to the reduction of CO₂ emissions. Transitioning the economy to use more sustainable sources of energy is an important part of our ESG commitment.”
"We are pleased to further expand our good cooperation with Hamburg Commercial Bank with this financing. The rise in gas and oil prices and the looming supply shortage of fossil fuels have once again significantly increased our customers' interest in alternative and locally generated energy," said Benjamin Fremaux, President of Idex. "With this new financing, we have the opportunity to build additional capacity to respond to the increased demand."
Founded in 1963, Idex has become a leading energy company in France. As the third largest District Heating provider in the country, it provides energy solutions as well as alternatives to fossil fuel power generation. The company focuses on Energy from Waste (fourth largest operator of EfW plants in France) as well as biomass, geothermal, anaerobic digestion, wind, photovoltaic and solar thermal energy generation, among others.
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