Forvis Mazars advises Aukera Energy on €460mn structured credit facility for European energy infrastructure portfolio

Challenge proposed by Aukera Energy:

Aukera is backed by AtlasInvest, Reggeborgh and SFPIM (Belgium’s sovereign wealth fund), to build a long-horizon European energy infrastructure business capable of developing, financing, constructing and operating renewable energy and battery storage assets. The proposed transaction required a due diligence report for prospective funders to provide Aukera with refinancing of its debt facilities.   

Our approach to Due Diligence:

Forvis Mazars assembled an integrated financial and tax vendor due diligence team involving colleagues in the United Kingdom and Belgium. The cross-border team worked collaboratively, demonstrating sector and tax expertise to support Aukera.

Pierre-Paul Jacquet - Due Diligence Partner, Forvis Mazars in the UK said: "We are delighted to support Aukera once again on this successful financing round, building on the knowledge and insights gained from our previous work together while extending our financial due diligence support across additional workstreams."

Our approach to Model Audit:

The financial model was highly complex in terms of both its structure and debt mechanisms, and our team worked very diligently and efficiently to deliver high-quality audit reports within the challenging timeline. This portfolio model also included tax reviews for five different jurisdictions (Belgium, the United Kingdom, Germany, Romania and Italy), for which we engaged with our wider network and were supported by our local offices in the respective countries to complete the reviews in accordance with local tax legislation.

Sudhanshu Gambhir - Director, GIF EMEA Model Audit, Forvis Mazars in the UK said: “This transaction represents a significant investment in Europe's renewable energy and battery storage infrastructure, and we were proud to contribute to its successful delivery through our expertise”. 

How we delivered success to Aukera Energy:

Through our joint, collaborative workstream, we helped prepare clear, funder-ready financial and tax due diligence outputs and a model audit report.

Joeri De Ceuleneire - Tax Partner, Forvis Mazars in Belgium said: “This transaction highlights the strength of the Forvis Mazars network in supporting large-scale energy infrastructure investments across Europe. Working closely alongside our colleagues in the UK and across multiple jurisdictions, we provided coordinated tax due diligence that helped deliver a seamless process for all stakeholders involved."

Related link:

Aukera closes €460 million structured credit facility led by EIG to support European energy infrastructure portfolio