Capcora GmbH
SUNfarming secures EUR 17 million fresh money for new PV projects in Poland
DGAP-News: Capcora GmbH
/ Key word(s): Financing
SUNfarming Group from Erkner has secured two new bridge financing facilities from various debt funds. The funds will be used to expand the existing portfolio in Poland to a total capacity of approx. 60 MWp in the short term. The consulting firm Capcora again was mandated to accompany the financing processes as an exclusive financial advisor. EUR 12 million will be used to finance the construction of 17 MWp of new photovoltaic projects in Poland, which have been awarded with a CfD in the 2018 auction and are to be built and connected to the grid by April 2020. Another existing financing scheme was increased from EUR 20 million to EUR 25 million. This revolving credit facility is made available to SUNfarming Group for approx. 3 years and is an essential key factor for the realisation of new projects and for further growth in Poland. “With the conclusion of these two new facilities, we will continue our growth after a successful year 2018 and significantly increase the Polish portfolio to at least 150 MWp over the next two years,” says Martin Tauschke, Managing Director and Co-Owner of SUNfarming Group. The Polish government recently extended the deadline for the completion of projects from the 2018 auction to November 2020, which has increased the probability of realisation of many projects. Another PV auction with a tender volume of 750 MW of solar capacity will take place in December 2019. According to current statistics, there are approx. 1 GWp installed in the Polish market, of which approx. 500 MW are free-field projects within the scope of the auction. With the already installed capacity and after completion of the projects under construction of 46 MW, SUNfarming has a market share of almost 10% of realized auction projects in Poland. About SUNfarming About Capcora
22.11.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |