Darby Overseas Investments Ltd., the private equity arm of Franklin Templeton Investments, says that the Darby Converging Europe Mezzanine Fund made an initial disbursement under a 15.3 million-euro ($21.5 million) multi-tranche facility extended to Energy 21, a developer, investor and operator of solar power plants in the Czech Republic. Transaction details were not disclosed.
Energy 21 is active in solar power generation, solar power plant development and system integration. With 10 MW of installed capacity, Energy 21 is a leading solar power plant operator and developer in the Czech Republic and a pioneer in the sector in the central and eastern Europe regions, according to Darby.
Energy 21 plans to reach 40 MW installed capacity by the end of this year and also serves as a solar power systems integrator in the Czech Republic through its subsidiary, CE Solar.
SOURCE: Darby Overseas Investments Ltd.