+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

SUNfarming reaches financial close on project financing for 26 MWp PV Portfolio in Poland

News

SUNfarming secures project financing from ING for Poland Capcora

SUNfarming achieved closing on the first tranche under a framework term loan and VAT facility in an amount of approx.

PLN 116 m provided by ING Bank Śląski S.A. The 15 years non-recourse loan is dedicated to refinance a portfolio of CfD awarded solar PV projects with 26 MWp in Poland. Financial close on the first tranche in an amount of PLN 45m was reached by 30th December 2020, the loan agreement was already signed in November 2020. Capcora assisted SUNfarming as financial advisor.

The projects are part of SUNfarming‘s growing IPP portfolio which has already reached a size of around 50 MWp. The financing represents one of the first long-term project financing for SUNfarming in Poland. Construction has been financed separately by equity and short-term bridge debt which will be refinanced with the new funds.

The transaction involved 26 projects held in 16 SPVs and was paid out at the level of a Polish HoldCo. The nature of the small-scale assets significantly increased the complexity of the process and documentation.

„We are happy to have reached our first financial close on a long-term project financing in Poland which is a key element for our further growth strategy in the market. We are looking forward to accelerate our Polish activities with strong and reputable bank partners such as ING bank.“, said Martin Tauschke, managing director and co-partner of SUNfarming Group.

ING was advised by Allen & Overy as legal advisor and UL as technical advisor.

SUNfarming was advised by Luther (documentation), Rödl&Partner (due diligence, tax) and Capcora as financial advisor.

Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: