Sunfarming Reaches Financial Close for PV Solar Park in Poland
Frankfurt am Main, Germany - Sunfarming GmbH has drawn down the first tranche of a framework credit agreement with ING Bank Slaski S.A.. This consists of a project financing and VAT facility in an amount of approximately PLN 116 million.
The projects are part of Sunfarming's growing IPP portfolio, which has already reached a total capacity of around 50 MWp. The transaction includes 26 projects held in 16 special purpose vehicles (SPVs), Capcora said.
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.
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.
Source: IWR Online, 11 Jan 2021