What Akereos Capital does

Akereos Capital is a London-headquartered boutique investment banking firm founded in 2016 that exclusively advises clients on energy transition transactions across Europe. The firm operates five integrated service pillars — Mergers & Acquisitions, Private Capital, Debt Advisory, Intermediate Capital, and Energy Markets & PPAs — serving renewable energy developers, independent power producers (IPPs), private equity firms, and infrastructure funds. Akereos Capital Limited is authorised and regulated by the UK Financial Conduct Authority (FRN: 760861) and operates from London with a second continental European hub in Hamburg, having onboarded senior Managing Directors from Evercore, Santander and Macquarie in 2025. The CEO and founder is Kostas Nikolopoulus; Nick Sinden serves as Director of Origination, Structuring and Execution.

The firm's intellectual property resides in proprietary European power-market models and structured financing frameworks rather than in commercial software. Akereos pioneered Europe's first multi-country Total IPP Financing (TIPPF), a structure that enables IPPs to finance multi-jurisdictional asset pipelines simultaneously across senior and subordinated capital, eliminating the need for future equity contributions. The firm has arranged 15+ HoldCo financings since 2022 and is the #1 renewable bond arranger globally by volume in both 2023 and 2024. Cumulative transaction volume across debt and equity exceeds €14bn since 2019, including €10bn in the last three years; €6bn+ of financings have been completed in the European renewable energy space specifically. Distinctive customer wins include BNZ/Nuveen Infrastructure (€680m TIPPF, PFI Power Deal of the Year 2024 EMEA), ILOS Projects (€500m structured credit facility upsized to €450m plus €108m IG-rated bond), TagEnergy (€570m dual-currency green bond), Mirova (€144m Greek solar financing), and ib vogt (sale of c.780MW Greek renewables portfolio).

Akereos monetises its platform through professional-services fees — advisory retainers, success fees on M&A, arrangement commissions on debt and bond mandates, and PPA advisory fees — with pricing negotiated per transaction. Distribution is entirely direct, with senior bankers sourcing mandates through industry relationships, conference participation and the firm's league-table track record. Customers are predominantly enterprise-scale: large renewable energy developers, listed and unlisted IPPs, infrastructure investment managers (Schroders Greencoat, Mirova, Nuveen), and specialist clean-energy PE sponsors (Infranity, Omnes, CIP). The firm employs 60+ people across Europe, operates a flat meritocratic culture, and is privately held with no disclosed parent or external investor.

Name

Akereos Capital

Legal name

Akereos Capital Limited

Website

https://akereos.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Akereos Capital is a London-headquartered boutique investment bank founded in 2016 providing M&A, debt advisory, intermediate capital, and PPA advisory services exclusively to renewable energy developers, IPPs, private equity and infrastructure funds across Europe.

Ownership category

akta.pro rank

Product category

Renewable Energy Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Debt Advisory & Financing Advisory (FSAEAGAD), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Investment banking advisory
• Renewable energy financing
• M&A advisory
• Debt advisory services
• PPA advisory

Headquarters

HQ city

London

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. M&A Advisory Fees: Akereos earns advisory fees for sell-side and buy-side M&A mandates, strategic advisory, and private capital transactions. These are typically success-fee or retainer-based engagements typical of boutique investment banks, structured around transaction value and mandate complexity.
2. Debt Advisory & Arrangement Fees: The firm acts as sole arranger, structurer, and exclusive debt advisor on project financings, HoldCo facilities, bond issuances, and credit facilities. Revenue is earned through arrangement fees tied to transaction size and structuring complexity.
3. Energy Markets & PPA Advisory: Akereos provides PPA advisory services and can act as balancing responsible party for assets in the UK. Revenue derives from advisory fees and structuring commissions on power offtake arrangements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Akereos Capital is a specialist boutique investment bank that advises renewable energy developers, independent power producers (IPPs), private equity and infrastructure funds on the full range of energy transition financing transactions. Its core offerings cover sell-side and buy-side Mergers & Acquisitions, debt advisory and arranging (including renewable bond issuance), structuring of intermediate capital solutions, Energy Markets and Power Purchase Agreement (PPA) advisory, and Private Capital placement mandates across the renewables value chain.

Product overview

Akereos Capital is an investment banking firm offering a one-stop shop for energy transition advisory services. The firm operates across five core service pillars: Mergers & Acquisitions (M&A advisory and strategic transactions), Debt Advisory (full-spectrum financing solutions including project finance, bonds, and warehouse facilities), Intermediate Capital (bespoke non-dilutive capital instruments), Energy Markets & PPAs (power purchase agreement advisory and balancing services), and Private Capital (institutional capital raising). Founded in 2016 and headquartered in London with a second hub in Hamburg, the firm provides these integrated services to developers, independent power producers, private equity, and infrastructure funds navigating the energy transition.

Differentiator

Problem solved

Functional benefit

Products and services

• Mergers & Acquisitions (M&A) Advisory End-to-end M&A advisory for renewable energy developers, IPPs and infrastructure funds, covering sell-side, buy-side, take-privates and strategic combinations across wind, solar and broader energy transition infrastructure.
• Debt Advisory and Bond Arranging Project- and corporate-level debt advisory and arranging, including renewable bond issuance, project finance refinancing, and balance-sheet capital structure optimisation for renewable energy issuers and infrastructure sponsors.
• Intermediate Capital Structuring and placement of intermediate (mezzanine / non-core-equity) capital solutions that sit between senior debt and equity in the renewable energy capital structure, targeting developers, IPPs and infrastructure funds seeking flexible, non-dilutive or hybrid capital.
• Energy Markets & PPA Advisory Specialist advisory on energy markets and Power Purchase Agreements (PPAs), including pricing analysis, PPA structuring, route-to-market strategy, and merchant/tolling exposure analysis, supported by proprietary European power-market models.
• Private Capital Capital-raising advisory targeting private (non-bank) institutional investors — including pension funds, insurers, sovereign and family offices — for renewable energy platforms, portfolios and bespoke infrastructure investment vehicles.

Quantifiable outcome

• €14bn+ in transaction volume across debt and equity since 2019
• +5 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

22 partnerships are on record, tiered core and notable.

• Enray PowercoreOthers · 10 June 2026Akereos Capital acts as exclusive financial adviser to Enray Power, advising on multiple project financings including the £43m Carlton Solar Farm senior debt facility with Rabobank, the Camblesforth Solar Farm (68.5MWp PV + 24MWh BESS), and the £80m acquisition financing for 78MW solar and BESS under a PPA with a leading multinational. Also advised on multiple project sales to Enray from Island Green Power and BOOM Power.
• Schroders GreencoatcoreOthers · 9 June 2026Akereos Capital acted as exclusive debt adviser to Schroders Greencoat on an £80m senior debt facility for its acquisition of a 283MWp UK solar PV portfolio from METLEN. Also acted as exclusive sell-side adviser to METLEN on the sale of the portfolio to Schroders Greencoat.
• Svea Solar UtilitycoreOthers · 1 June 2026Akereos Capital acted as exclusive debt advisor to Svea Solar Utility on a €185m HoldCo financing facility from Eiffel Investment Group and Arkéa Asset Management to support growth of its renewable energy IPP platform in Sweden.
• Bluefield Solar Income FundcoreOthers · 8 May 2026Akereos Capital acted as exclusive debt adviser to Bluefield Solar Income Fund (BSIF) on a £120m senior debt financing for a 249MWp CfD-backed solar PV portfolio in England.
• ILOS ProjectscoreOthers · 20 April 2026Akereos Capital acted as structurer and exclusive debt advisor to ILOS on multiple transactions: upsizing of credit facility to €450m with EIG and La Caisse; €108m IG-rated bond take-out for 220MWp Irish solar portfolio with MEAG; and the initial €500m structured credit facility with EIG.
• MirovacoreOthers · 4 March 2026Akereos Capital acted as exclusive financial adviser to Mirova on €144m senior debt financing for a 156MWp solar portfolio in Greece (owned by Trifylli Iliaki S.M.S.A.), secured from Eurobank with RRF support.
• Aukera EnergycoreOthers · 19 November 2025Akereos Capital acted as exclusive financial adviser to Aukera Energy on multiple transactions: €60m unitranche financing for 250MW/500MWh BESS in Romania; €450m listed bond financing for solar, wind, and BESS projects; equity capital raise for 7.5GW portfolio; €104m financing for c.140MW solar in Italy.
• Power Capital Renewable EnergycoreOthers · 12 September 2025Akereos Capital acted as sole financial adviser to Power Capital Renewable Energy on: €323m HoldCo financing with Eiffel Investment Group; €240m HoldCo facility; and minority equity stake sale to Infranity and Omnes (c.5GW solar and BESS platform in Ireland). Also PPA advisory with Microsoft and Google.
• Fil Panovski (MD, Head of M&A)coreOthers · 12 August 2025Akereos Capital appointed Fil Panovski as Managing Director, Head of M&A. Fil joined after 12+ years at Evercore, where he was a senior member of the Utilities, Infrastructure and Transport team. His track record includes advising on TPG's Matrix Renewables, CVC DIF's acquisition of ib vogt, iCON Infrastructure's acquisition of Wind Estate, and sales of Element Power and Solarcentury to Statkraft.
• Kanadevia InovacoreOthers · 7 January 2025Akereos Capital acted as the M&A adviser to Kanadevia Inova on its acquisition of Iona Capital Limited and its UK biogas portfolio (75MWth platform with 15 operational anaerobic digestion plants and a global project pipeline).
• ib vogtcoreOthers · 24 December 2024Akereos Capital acted as sole and exclusive M&A sell-side adviser to ib vogt on the sale of its Greek renewables portfolio (c.780MW solar PV and BESS assets) to Faria Renewables.
• Ortus Power Resources Italy and I Squared CapitalnotableOthers · 30 October 2024Akereos Capital acted as sole bookrunner, structurer, and exclusive debt advisor to Ortus Power Resources Italy on a €100m HoldCo bond financing with I Squared Capital to build and operate a 740MW solar portfolio in Italy.
• BNZ (Nuveen Infrastructure)coreOthers · 15 October 2024Akereos Capital acted as sole arranger, structurer, and exclusive debt adviser to BNZ on Europe's first multi-country Total IPP Financing (TIPPF) — €420m green senior warehouse and €260m HoldCo facility totalling €680m. Won PFI Power Deal of the Year 2024 EMEA.
• Enfinity GlobalnotableOthers · 26 August 2024Akereos Capital acted as sole bookrunner, structurer, and exclusive debt advisor to Enfinity Global on a €500m financing (with accordion to €800m) to build, own, and operate 1.5GW of solar power plants in Italy with a club of investors including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management, and QIC.
• Ilmatar EnergynotableOthers · 14 November 2023Akereos Capital acted as sole bookrunner, structurer, and exclusive debt adviser to Ilmatar Energy on a €500m HoldCo financing led by Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund 1, with participation from KLP and P Capital Partners, to accelerate Nordic renewable energy production.
• MaxSolarnotableOthers · 14 July 2023Akereos Capital acted as debt adviser to MaxSolar on a €410m financing facility with Infranity, I Squared Capital, and Rivage Investment to install 2GW of solar and co-located storage projects in Germany over 5 years.
• TagEnergycoreOthers · 19 June 2023Akereos Capital acted as sole bookrunner, structurer, and exclusive debt advisor to TagEnergy on an up to €570m equivalent dual-currency green bond with CIP and GIC to fund its global pipeline of more than 4GW of renewable energy projects (including Golden Plains Wind Farm in Australia).
• Integrum Renewable EnergycoreOthers · 13 June 2023Akereos Capital acted as exclusive M&A sell-side adviser to Integrum Renewable Energy on its 2GW UK solar PV and BESS platform majority stake sale to Omnes Capital. Also adviser on the 78MW solar and BESS sale from Island Green Power.
• Aukera Energy and Securenergy JVnotableOthers · 30 September 2022Akereos Capital acted as exclusive M&A adviser to Aukera on its joint development agreement with Securenergy for acquisition of a 1,000MW solar PV development portfolio in Germany, structured as a joint venture.
• AMPYR Solar EuropenotableOthers · 16 February 2022Akereos Capital acted as sole bookrunner, structurer, and exclusive debt adviser to AMPYR Solar Europe on a €400m HoldCo facility with CarVal Investors to develop and construct solar assets across Germany, Netherlands, and the UK.
• Aquila Capital (Viridi RE / Green Enesys)notableOthers · 1 February 2022Akereos Capital acted as M&A adviser to Viridi RE and Green Enesys Group on the sale of a 500MW solar PV portfolio under development in Spain to Aquila Capital.
• Eurazeo (Ikaros Solar acquisition)notableOthers · 13 January 2022Akereos Capital acted as M&A adviser to Eurazeo on its acquisition of an 80% stake in Ikaros Solar from founders and Capenergie 2 (Omnes Capital) — the first investment of Eurazeo's infrastructure strategy.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Evercore: Global independent advisory firm with a Utilities, Infrastructure and Transport practice covering renewables M&A and financing. Source of Akereos' recent MD hire (Fil Panovski); competes for similar IPP and infrastructure-investor mandates at the larger end of the market.
• Rothschild & Co: Independent global advisory firm with a long-standing utilities and renewables M&A practice. Competes with Akereos for sell-side developer mandates and infrastructure investor advisory across Europe.
• Macquarie Capital: Global investment bank with deep renewable energy and infrastructure finance franchise. Source of Akereos' Private Capital MD hire (Toby Ingram); competes for HoldCo, project finance, and PPA mandates across the European renewables sector.
• Jefferies: Global investment bank with active renewable energy and energy transition M&A and debt capital markets practice. Competes for bond arranging, equity raises, and M&A mandates alongside Akereos in European renewables.
• Lazard: Global advisory firm with a dedicated Power, Energy and Infrastructure group covering renewable energy transactions. Competes with Akereos for IPP sell-side, infrastructure fund mandates, and structured capital solutions in Europe.

Direct peers

• Green Giraffe: Boutique investment banking advisor exclusively focused on renewable energy and energy transition projects globally. Highly comparable to Akereos in domain specialization, client base (developers, IPPs, infrastructure funds), and product mix (M&A, project finance, PPA advisory).
• Bluefin Advisory: UK boutique advisory firm specialized in renewable energy and cleantech transactions. Comparable to Akereos in serving developers, IPPs, and PE funds across solar, wind, and BESS M&A and financing mandates.
• Inspired Investment Banking: London-based boutique advisor focused on clean energy and sustainability transactions, including M&A, capital raising, and project finance. Closely comparable mid-market positioning to Akereos in the UK/European energy transition advisory space.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Akereos Capital