Capcora Accompanies: Sunfarming Secures Mezzanine Capital For Operational Large-scale PV Portfolio in Germany

Frankfurt am Main, Germany - Sunfarming Group, based in Erkner, Germany, secures fresh growth capital to finance its further project pipeline in Germany. Within the framework of a private placement, the company is issuing two project bonds with a volume of a smaller double-digit million sum.

Sunfarming has already raised mezzanine capital for German and Polish projects in previous years. The subordinated debt was provided by a managed account administered by Prime Capital AG. The funds are raised in the form of bearer bonds at the level of group companies that own solar farms with a capacity of approximately 185 MWp. Capcora acted as exclusive financial advisor to Sunfarming in the transaction.

"Thanks to this transaction, we were once again able to generate considerable liquidity from our existing portfolio. These additional financial resources enable us to finance our growth, especially in Germany, and successfully drive forward our ongoing projects", says Martin Tauschke, Managing Partner at Sunfarming Group.

"We are pleased to announce our second mezzanine financing with Sunfarming this year. This underlines the importance of long-term partnerships and the resulting added value in complex transactions", adds Bernhard Hofmann, Director in Capcora's Energy and Infrastructure practice.

Prime Capital was supported in this transaction by Simmons & Simmons as legal advisor and Meteocontrol as technical advisor as well as Eight Advisory (tax) and EURO Transaction Solutions (insurance). On the Sunfarming side, Hogan Lovells acted as legal advisor and Capcora as exclusively mandated financial advisor.

About the companies

Since its foundation in 2004, Sunfarming GmbH has covered the entire project development and EPC (engineering, procurement, construction) value chain. The company has already successfully realized a plant output of more than approx. 650 MWp. For more than 350 MWp in Germany and abroad Sunfarming takes over the technical management.

Capcora is a consultancy specializing in real assets and raises equity, mezzanine and debt capital for energy and infrastructure projects, real estate and medium-sized companies. In addition, Capcora accompanies acquisition or sales processes as a transaction manager (buy- and sell-side advisory).

Prime Capital is an independent asset manager and financial services provider specializing in the management of alternative asset classes with proven expertise in absolute return, infrastructure including renewable energy and private debt. Prime Capital currently manages assets under management of approximately EUR 4.3 billion and assets under administration of approximately EUR 8.6 billion.

Source: IWR Online, 23 Oct 2023