Construction of PV Plants in Poland: Hansainvest And Sufarming Conclude Multi-million Framework Agreement - Capcora Advises

Frankfurt am Main, Germany - The Sunfarming Group and Hansainvest Real Assets GmbH, which ist specialised in asset management in the field of sustainable real estate and infrastructure facilities, are expanding their cooperation to the solar market in Poland.

Based on a framework agreement, Hansainvest is providing mezzanine financing of EUR 50 million for 231 PV projects in Poland with a total capacity of approximately 257 MWp. The financial close took place at the end of December 2022. A first tranche of EUR 12 million will be used to refinance a portfolio of 50 solar plants with a capacity of 48 MWp.

The mezzanine financing has a tenor of 20 years and was issued in euros with adequate currency hedging. Capcora, a Frankfurt-based consultancy specialised in real assets, acted as Sunfarming's exclusive mandated financial advisor for the transaction. "Euro financings present challenges to the industry due to a lack of cross currency swap liquidity in the long term. We are pleased to have been able to contribute to this complex transaction, having already assisted SUNfarming in structuring the interim construction financing and bank refinancing," said Bernhard Hofmann, Director in Capcora's Energy and Infrastructure practice.

"Poland is our second main market, and we are grateful for the trust in our work, which is underlined by the extension of the partnership," Martin Tauschke, Managing Director of Sunfarming Group and SUN IPP welcomes the cooperation. "We are pleased to be making our debut in the Polish renewable energy market with an existing partner who has also been active in the Polish market for years and already has a significant track record. We are convinced that Poland offers tremendous growth opportunities for us," adds Christoph Lüken, Head of Portfolio Management Infrastructure at Hansainvest Real Assets.

Source: IWR Online, 07 Feb 2023