June 30, 2020
Corporate Finance for Renewable Energy Projects of VH Invest AG
North Channel Bank Engages in the Renewable Energy Sector
VH Invest AG, formerly Vortex Energy Holding AG, obtained corporate financing from North Channel Bank for scalable projects in the renewable energy sector. “We are very pleased to be able to offer VH Invest a solution that will enable the company to advance its wind power and photovoltaic projects,” states Harald Zenke, Managing Director of North Channel Bank GmbH & Co. KG. “This funding underlines our bank’s focus on the renewable energy market sector once again”.
Partner in the Fields of Wind Energy and Photovoltaics
VH Invest AG develops, realizes and operates wind and solar energy plants in Poland and Belgium. In Germany, the focus is now on photovoltaics, as the wind division has been sold. Since 2019 several photovoltaic projects in Poland and a wind power project in Belgium are in the planning stage. “Our goal is to play an active role in the energy system transformation. We see ourselves as a partner for municipalities, property owners, institutions, investors, and plant owners in the fields of wind energy and photovoltaics. “With the support of North Channel Bank we are now able to implement our future wind power projects in a shorter period of time and accelerate the development of new projects”, says Dr. Till Jeske, founder and CEO of VH Invest AG.
North Channel Bank GmbH & Co. KG was founded in 1924 as the privately owned bank Bankhaus Oswald Kruber located in Berlin. In 2009, a North American group of investors with expertise in the US Life Settlements sector acquired the bank and renamed it North Channel Bank. In the following years, the bank developed into one of the leading institutions in US Life Settlement financing. For many years, the bank has been working with the experienced and renowned US servicer NorthStar Life Services, LLC, a former affiliate, and offers not only financing but also investments in US Life Settlements. The affiliate NorthStar Life Settlements Trading, LLC, Irvine, California, renamed in 2020, handles the trading of policies in this business segment. In the Structured Finance division, the bank focuses in particular on financing in the renewable energy sector (focus: equity interim financing), capital goods, and growth financing.
VH Invest AG plans and implements renewable energy projects primarily in Poland, but also in Germany and neighboring countries. The company, based in Kassel, was founded in 2004 and contributes its know-how at the planning and project development stage, acting as general contractor, farm/park operator. The services offered by VH Invest range from consulting, planning, constructional realization, and operational management to full-service provider. As a licensed electricity trader, VH Invest interacts in Poland on the electricity exchange, takes care of accounting and supplies end customers with certified electricity as the supplier of electricity.