In November 2025, Rock Rail and Infracapital secured financing for a new electric multiple unit (EMU) fleet for the Elektronetz Nord-Magdeburg network in Magdeburg and Halle, Germany.
The project will provide 16 three-car and 19 four-car Siemens Mireo EMUs which will replace the existing ageing fleet of EMUs and locomotive-hauled ccoaches. The new fleet will enter service in December 2028 and is expected to deliver greater energy efficiency compared to legacy rolling stock. The project is a major step towards decarbonising regional rail in Germany.
Operis acted as modelling advisor to the sponsors, from the initial model build to running equity and lender scenarios through to managing the model audit process and financial close. An independent team at Operis acted as model auditor.
