HS Orka, a leading producer of renewable electricity in Iceland, has secured a US$210 million financing package with a group of European commercial lenders. HS Orka is owned by Ancala Partners (an independent independent infrastructure investment manager) and Jarðvarmi (a consortium of 14 Icelandic pension funds).
The new financing comprises a term loan, capex facility, and revolving credit facility. HS Orka will use the facilities to pursue development projects and support further growth of the business.
Latham & Watkins advised HS Orka and its shareholders on their refinancing with a team led by London infrastructure partner Conrad Andersen and senior associate Amanda Fortuna.