enen endless energy extends bridge financing framework for new projects with 3.3 MWp
Frankfurt am Main (renewablepress) - Enen endless energy GmbH from Limburg issues a new bearer bond of EUR 3.3 million to finance another roof-mounted PV portfolio with 3.3 MWp in Germany. Only after a few months enen achieves to expand their financial scope. The company received an initial bridge financing for projects with 2.3 MWp in March 2019. These projects have since been built and sold. Enen again was supported in this transaction by Capcora, a consulting firm specialized on real assets.
The expansion portfolio, which will be bundled in a newly established SPV, consists of 7 photovoltaic systems, which are scheduled to be commissioned in August and September 2019.
The funding was provided by the same private debt fund, which also made available the first bridge financing in March. Due to the well-rehearsed processes and the availability of an existing documentation it was possible to close the financing in less than 2 weeks.
This portfolio is again envisaged for sale after construction. Initial talks with investors are already under way.
"We are very proud that we succeeded to expand our bridge financing framework in such a short time and we are now able to use the funds to get new projects up and running," says Jürgen Mäurer, managing partner of enen endless energy.
On the legal side, the transaction was again accompanied by the law firm Luther Rechtsanwaltsgesellschaft mbH under the leadership of Alexander Wojtek (documentation) and Angelo Vallone (due diligence).
About enen endless energy:
Enen endless energy has been making a concrete contribution for 17 years to consciously and actively provide alternative and sustainable forms of generating electricity from renewable energy sources.
To this end, its focus is on the development, financing and construction of profitable wind farms, biogas, biomass, photovoltaic and hydroelectric power plants in selected countries of the European Union. Since 2008, enen has been active exclusively in the area of freefield and rooftop photovoltaic systems.
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources.www.capcora.com
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Frankfurt am Main, 05 August 2019
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