Capcora Acted as Financial Advisor: Golden Peaks Capital Secures Financing For Extensive Solar Portfolio in Poland

Frankfurt am Main, Germany - Golden Peaks Capital (GPC) has successfully completed the financing of a portfolio of photovoltaic projects with a total capacity of 72.0 MWp in various regions of Poland.

The company, which specializes in the construction and operation of solar plants, is one of the largest photovoltaic systems owners in Poland and Hungary.

The "Charlie" portfolio consists of 55 individual solar projects spread across Poland, ranging in size from 1 MWp to 8 MWp. Throughout the operational phase, the portfolio will benefit from a euro-denominated Power Purchase Agreement (PPA).

The financing package was provided by a banking club consisting of DNB Bank ASA and PKO Bank Polski. The German consulting firm Capcora acted as exclusive financial advisor to GPC.

"GPC has solidified its standing in Poland as a seasoned provider of long-term, Euro-denominated Corporate Power Purchase Agreements (PPAs) to some of the world's leading multinational corporations. The Charlie portfolio exemplifies our ability to ensure the bankability of these projects", said Daniel Tain, welcoming the successful financing.

"As the largest Polish bank for business, we want to jointly counteract climate change and contribute to increasing the share of green energy in the national energy mix", adds Marcin Majewski, Head of Corporate Clients and Corporate Relations at PKO Bank Polski. "By pioneering the introduction of Euro PPAs for solar projects in the Polish Zloty market, GPC is making a significant and groundbreaking contribution to the sector. We take immense pride in our role as a financial partner, supporting and enabling a key player in the market and boosting green transformation of Poland", commented Ewa Banasiuk, Head of Renewable Energy at DNB Bank Polska on the deal.

"GPC is undeniably one of the most advanced and forward-thinking players in the Polish market. We are immensely proud to work with them and being able to contribute to the success of the transaction by helping to form an exclusive club of two lenders“, adds Bartek Hofman, Director at Capcora and Head of the Polish office.

GPC was advised by Dentons, while PKO Bank Polski and DNB Bank ASA worked with CMS on both documentation and legal due diligence. Green Energy Venture AG acted as technical advisor to the lenders.

Source: IWR Online, 07 Dec 2023