Green energy securitization funds renewable generation through securities. The project is held in a compartment ring-fenced inside a Luxembourg SPV, and a note bearing an ISIN of its own is issued against it. The compartment can hold an interest in the project, or act as first lender to the company developing it.
Renewable projects are financed differently depending on whether they are being developed, built or already generating. MTCM assigns the project a compartment of its own in one of six Luxembourg SPVs, ring-fenced by law, and a note bearing its own ISIN is issued from it. Where the project company needs capital rather than a transfer of an existing asset, the compartment can act as first lender and grant the facility directly. The compartment is bankruptcy remote both ways, and the exposure sits off the sponsor’s balance sheet. The platform is advised by GSK Stockmann and audited by PwC and Atwell.
Held in custody, transferred or listed like any other security.
Segregated by law from every other transaction on the platform.
Protection runs in both directions.
The exposure leaves the originator’s balance sheet.
Utility-scale and distributed photovoltaic assets.
Onshore and offshore turbines, at construction or operating stage.
Run-of-river and reservoir plants with long operating lives.
Exploration, drilling and development of geothermal resources.
Facilities converting organic inputs into heat, power or fuel.
Battery installations and other storage supporting grid reliability.
Charging networks and the infrastructure behind electric transport.
Systems improving distribution efficiency and renewable integration.
Construction and retrofit programmes with measurable efficiency gains.
Companies developing technology for the energy transition.
Green energy securitization funds renewable generation through securities. A Luxembourg SPV holds the project in a ring-fenced compartment and issues a note against it, under an ISIN of its own. The compartment can hold an interest in the project or lend to the company developing it.
Yes. The compartment is Luxembourg-based; the project does not have to be. Where the project company is abroad, the compartment often acts as first lender, granting the facility directly rather than acquiring an asset across jurisdictions.
No. Development, construction and operating projects can all be structured, but not on the same terms. The stage determines what the compartment is exposed to and what documentation has to be on file before the note is issued.
The compartment grants the facility itself instead of acquiring an existing loan or asset. The project company deals with a single lender of record, and the note is issued against the facility the compartment has originated.
No. A compartment can issue in listed or unlisted form. Listing is decided by what the intended investors require, and is set when the compartment is structured rather than added later.
Developers and sponsors of mid-sized renewable projects that fall between bank lending and syndicated finance, and the wealth managers, family offices and institutional investors that want project exposure in custody-eligible form.
| Stage | What the compartment is exposed to | What it needs on file |
|---|---|---|
| Development | Permitting and grid connection | Land rights, permit status, connection agreement |
| Construction | Delivery on time and on budget | EPC contract, budget, technical adviser’s report |
| Operating | Generation and offtake performance | Production history, PPA or offtake terms, O&M contract |
| Refinancing | An asset already generating | Track record and existing financing release terms |
80+ active compartments · €2.5 bn+ assets structured. Indicative platform figures.