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ContourGlobal Raises USD 713 Million to Accelerate Renewables and BESS Growth

ContourGlobal, backed by KKR, has wrapped up over USD 713 million in fresh refinancing and capital-raising moves to streamline its balance sheet and accelerate growth across renewables, BESS, and its transitioning thermal portfolio.

November 19, 2025. By Mrinmoy Dey

ContourGlobal, owned by KKR, has recently completed a series of strategic refinancing and capital-raising transactions totalling more than USD 713 million, aimed at optimising its capital structure, supporting growth in renewables and BESS, and strengthening the sustainable transition of its thermal fleet.

Over the last months, the company finalised three transactions with tier 1 financial institutions in Armenia, Austria, US and at the corporate level, reinforcing its long-term strategy of financial efficiency, simplification, and sustainable expansion. These transactions, together with USD 1.9 billion in refinancing, guarantees, corporate revolving facilities and green bond issuances signed over the past twelve months, bring the company’s total financing over the period to more than USD 2.6 billion to support its green transformation.

Laurent Hullo, Chief Financial Officer of ContourGlobal said, “These transactions represent an important milestone in our global growth strategy. By simplifying our financing structure and deepening relationships with leading financial institutions, we are laying the groundwork for continued investment in high-impact renewable projects. Our focus remains on building resilience and ensuring we have the flexibility to support the energy transition across the markets where we operate.”

These strategic refinancing and capital-raising transactions include a series of guarantee facilities totalling USD 125 million signed over the past twelve months with leading insurers, including Markel, and Allianz, creating a comprehensive and well-balanced corporate financing platform.

In Armenia, ContourGlobal has completed a USD 135 million refinancing of the Vorotan Hydro Cascade – a portfolio of 3 hydropower plants located along the Vorotan River in Armenia – with a combined installed capacity of 404 MW. Operated by a dedicated team of over 120 professionals, the Vorotan Hydro Cascade stands as a cornerstone of Armenia’s renewable energy infrastructure.

In Austria, the company closed a EUR 95 million (USD 111 million) refinancing of four (out of our seven) operating wind farms, marking a significant milestone in the company’s strategy to optimize its financial structure and strengthen its foundation for future growth.

The refinancing replaces five separate asset-level financing agreements with a single portfolio-level facility, simplifying reporting requirements and improving risk management by consolidating assets under one structure. This upsised refinancing reflects an enhanced approach to energy management and market participation, which improves operational efficiency and cash flow generation.

ContourGlobal operates seven wind farms across Austria, with a total installed capacity of 162 MW. Four of those wind farms have undergone extensive repowering projects, enhancing production efficiency by reducing the number of turbines while increasing output. Today, ContourGlobal’s wind farms generate approximately 400 GWh annually, playing a vital role in supporting Austria’s energy transition and contributing to a more sustainable energy future.

ContourGlobal also strengthened its corporate financing structure by securing a new EUR 100 million (USD 116 million), four-year letter of credit facility with BBVA. This facility introduces a new lender to the company’s financing base while securing competitive terms that reflect the strong confidence of the market in ContourGlobal’s fundamentals.

All these deals add to ContourGlobal’s recently announced renewable Tax Equity investment and project financing in the United States, in a transaction valued at more than USD 350 million to support the 324 MWp Black Hollow Sun (BHS) photovoltaic project. The plant includes a first phase of 185 MWp already in commercial operation and, once completed, will constitute the largest photovoltaic installation in Northern Colorado, with an expected annual production of nearly 608 GWh of clean electricity, enough to power more than 73,000 homes.

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ContourGlobal in Austria

Renewable energy projects in Armenia