Hogan Lovells advises thermondo on its inaugural securitisation for the refinancing of solar and heat pump receivables

The refinancing was implemented through the issuance of structured notes to a single investor. 

Founded in 2012 in Berlin, thermondo is one of Germany’s leading energy transition businesses. Specializing in the installation and financing of environmentally friendly heating and energy systems for private homes – such as heat pumps and solar solutions – thermondo has built the country’s second-largest residential customer base, with more than 50,000 systems installed to date. The new financing will enable thermondo to further accelerate the rollout of climate-friendly and affordable energy solutions for homeowners across Germany. 

Hogan Lovells provided comprehensive legal advice to thermondo on all aspects of the securitisation structure, transaction documentation, and regulatory requirements. This transaction shows once again Hogan Lovells significant track record in the renewables securitisation practice.

Jason Goldstein, VP Strategic Finance at thermondo says:

"With Hogan Lovells, we have a knowledgeable and reliable partner at our side to implement innovative financing solutions together with our partner bank. This collaboration enables thermondo to scale access to affordable clean energy for homeowners, and help shape the future of energy transition financing."

Dr. Dietmar Helms, Partner at Hogan Lovells, adds:

"Embedded financing is a decisive factor in the energy transition – the solution offered by thermondo enables every household to switch to green energy systems. Hogan Lovells pioneered the refinancing of this sales financing through securitization transactions, which gives thermondo access to favorable capital market conditions – and thus also benefits thermondo's customers."

Hogan Lovells team for thermondo GmbH

Dr. Dietmar Helms (Partner), Sebastian Oebels (Counsel), Sandra Reinecke (Associate), Svenja Schiefer, Alexander Peters (Projects Associates) (Capital Markets, Frankfurt);

Sharon Lewis (Partner), Ailsa Davis (Counsel), Joanna Veitch (Associate) (Capital Markets, Paris); 

Dr. Heiko Gemmel (Partner), Vanessa Rinus (Associate) (Tax, Dusseldorf);

Ariane Mehrshahi (Partner), Agnes Merz, Valérie Laskowski, Carla Valdés Cortés (Senior Associates) (Capital Markets, Luxembourg); 

Gérard Neiens (Partner), Jean-Philippe Monmousseau (Counsel), Michèle Aké (Associate) (Tax, Luxembourg).