SUNfarming secures EUR 10 million in fresh money for Poland
Frankfurt am Main - The SUNfarming Group from Erkner has increased its existing revolving credit line from EUR 25 million to EUR 35 million. The additional liquidity of EUR 10 million will initially be used for bridge financing of Polish PV projects with approx. 17 MW. The consulting firm Capcora accompanied the process as financial advisor.
SUNfarming was able to secure the revolving bridge financing line with a term until September 2022 at the end of 2019 with support of Capcora. It was provided by a European private debt fund. The credit line has already been increased twice in succession. In addition, the financing and project criteria were made more flexible. Thus, CfD projects in Poland with a capacity of up to
1 MWp as well as German EEG projects below 750 kWp in the construction phase and to a certain extent projects in development can be financed with the line.
To date, a project volume of more than 70 MW has already been bridge financed.
The instrument can be used on a revolving basis, i.e. projects can leave the collateral pool after refinancing by a bank and be replaced by new assets.
"We are pleased that our partner is once again placing its trust in us and supporting our growth ambitions with additional capital. The Polish market continues to offer great potential and we are ideally positioned to take our portfolio to the next level," explains Martin Tauschke, managing director and co-partner of SUNfarming Group.
