ASN Groenprojectenfonds sells part of its loan portfolio to NWB Bank

Netherlands based ASN Energy & Innovation Fund (formerly ASN Green Projects Fund), a fund of Dutch asset manager ASN Impact Investors, and NWB Bank (the bank for the Dutch public water sector) have reached an agreement on the acquisition of part of the sustainability loan portfolio of ASN Energy & Innovation Fund (formerly ASN Green Projects Fund).

It concerns operational wind and solar parks and co-located battery storage spread across the Netherlands with a total installed capacity of about 290 MW.

Since its establishment in 1995, ASN Energy & Innovation Fund has been one of the frontrunners in financing the energy transition in the Netherlands. The rise of clean energy sources such as solar and wind has now progressed to such an extent that the energy transition is entering the next phase. That is why the ASN Energy & Innovation Fund will focus more on technologies that are essential for the energy system of the future, such as energy storage, EV charging infrastructure, circular production, sustainable mobility and energy-efficient buildings, in addition to traditional renewable energy production based on solar and wind power.  

“The divestment of part of the portfolio has released capital that can now be reinvested in innovative, new projects. This adjustment of the allocation of the fund’s assets allows the fund to engage itself in the next phase of the energy transition. There is a clear market demand for investments in generation, distribution and storage of renewable energy and all new ways of energy use in mobility, production and the built environment”, says ASN Impact Investors’ Fund Manager Rosemarijn van der Meij.

Nederlandse Waterschapsbank (NWB Bank) is a bank run by and for the public sector, with a particular focus on water and sustainability. NWB Bank has integrated the loans acquired from ASN Groenprojectenfonds in its portfolio of sustainable energy projects.

“This partnership with ASN Impact Investors exemplifies that, owing to our affordable and sustainable funding, our offering is complementary to that of the commercial banks. By acquiring this portfolio, we are also taking an important step towards our own ambitious goal: an energy-positive credit portfolio by 2035, heading towards climate-neutral by 2050”, says Leon Knoester, Head of Specialised Finance at NWB Bank.

ASN Groenprojectenfonds was advised by Voltiq (financial advisor) and Meijburg Legal (legal advisor). NWB Bank was advised by Stek (legal advisor).