BNP Structures €200 Million Novel Securitization for Heat Pumps
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BNP Paribas SA has struck a deal with Swedish heat pump manufacturer and installer Aira with the goal of making it cheaper for households to move away from high-carbon heat sources.
Aira, a startup created in 2022 by Swedish private equity firm Vargas, said in a statement on Tuesday it has secured €200 million ($217 million) in commitments from the European Union’s biggest bank. The money will go toward installing heat pumps in thousands of homes across Germany, according to the statement.