SUNfarming acquires 15 MWp solar PV project in Poland
SUNfarming acquires 15 MWp in Poland
© CapcoraFrankfurt am Main (renewablepress) - SUNfarming Group acquires a ready-to-build photovoltaic project with a capacity of 15 MWp in Poland. In parallel to the acquisition, construction bridge financing was secured. Start of construction is planned for Q2 2022. With the acquisition SUNfarming expands its Polish project portfolio to approx. 100 MWp. Capcora was mandated as financial advisor with procuring the bridge financing.
SUNfarming acquires its first large-scale project in Poland. So far, the company's focus in Poland has been primarily on projects with a nominal output of up to 1 MWp. The project, which secured a 15-year "Contract for Difference" in the June 2021 technology-independent tender, is located in the Pomeranian Voivodeship in northern Poland.
The total investment costs amount to almost EUR 11 million, of which approx. 70% will be financed via a debt fund. It is planned to replace the bridge financing with long-term project financing after commissioning of the project.
"We are pleased to announce the acquisition and financial close of a new 15 MWp in Poland. The acquisition of this project represents a milestone in two respects - on the one hand, we reach an important target of 100 MWp and, on the other hand, it is our largest single project in Poland to date," said Anna Pilarczyk-Naprawski, Managing Director Poland of the SUNfarming Group.
SUNfarming was supported in the transaction by Rödl&Partner (M&A, due diligence) and Bird&Bird (financing) as legal advisors and by Capcora as financial advisor.
Since its incorporation in 2004, SUNfarming GmbH has covered the entire project development and EPC value chain (engineering, procurement, construction) – from planning and development, through financing and construction, to monitoring and servicing of solar parks and associated concepts such as agro-photovoltaic and e-mobility. The company has a long-standing customer base of capital investors, local authorities, users of commercial and private in-house electricity generation systems, as well as sister companies within the group of companies which invest in solar plants. The international team of experienced commercial staff, engineers and technicians has successfully installed a capacity of more than 650 MWp. In addition, SUNfarming assumes the technical operation and some of the commercial services for over 350 MWp for other companies in Germany and abroad.
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. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).
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Caption: SUNfarming acquires 15 MWp in Poland
Frankfurt am Main, 22 December 2021
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