Dutch-based Rabobank has unveiled a new platform created to work with developers, owners and operators of renewable energy assets in North and Latin America. The new unit joins existing Rabobank teams in Europe and Asia that have a similar mandate in their respective regions.
The bank’s new Renewable Energy and Infrastructure Finance team in the Americas will focus on providing non- and limited-recourse financing to onshore and offshore wind projects, solar assets, biofuels, and biomass.
In a statement, the bank said it would initially co-underwrite project financings, and in the future also lead transactions. It also intends to help finance the renewable energy activities of its core food and agribusiness client base.
The team will be led by Thomas Emmons, who has joined Rabobank in New York from HSH Nordbank, the German public sector bank. Emmons will report to Marcel Gerritsen, global head of REIF, and Robert Bucklin, chief corporate banking officer in North America.
Gerritsen said in a statement: “Our goal overall is to apply our financial services to effectively contribute to the transition from a high-CO2 to a low-CO2 economy and, within the renewable energy sector, to further develop sustainable energy supplies and technologies around the world. Rabobank is committed to this sector even in the current difficult financial market conditions.”