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Capcora Arranges Financings for PV and Onshore Wind Projects

Frankfurt am Main, Germany - Just in time for the end of the year, the consulting company Capcora, specialised in real assets, arranged two follow-up financings for photovoltaic roof top plants and mezzanine capital to finance onshore wind projects in Germany.

With the follow-up financings in the solar Sector by Capcora, the Vodasun Group from Munich and Fellensiek Projektmanagement from Jever, specialised on construction of photovoltaic roof-top plants with a capacity of up to 750 kWp, plan to realize different project pipelines in Germany with an amount of approx. 40 MWp per year. Capcora was individually mandated by Vodasun Group and Fellensiek Projektmanagement as Financial Advisor each for the structuring of a revolving credit line. According to Capcora, both companies were able to secure a credit line of 5.5 million Euro which corresponds to a project volume of approx. 6-7 MWp with the support of the consulting firm. Since the construction phases for roof systems are rather short and refinancing via long-term project financing usually takes place within 3-6 months, a construction volume of approximately 20 MW per year can be financed if the bridge financing line is used optimally. The credit lines are available to both companies for a period of approximately 3 years.

Besides the follow up financings for Vodasun and Fellensiek, Capcora once again arranged mezzanine capital for the financing of onshore wind projects in Germany. The funds will be used to recapitalize tied-up equity in an existing project with a capacity of 15 MW and to acquire new wind projects. As Capcoraq points out, the financing was structured as a bearer bond issued by the family office and is collateralized with the shares in the project company that holds the wind farm. The mezzanine financing enables the customer to release its tied-up equity in order to acquire new projects. The first investments have already been implemented. The bond has a term of approximately 1 year with a bullet repayment.

Source: IWR Online, 30 Dec 2019