Publisher: Capcora GmbH
Capcora accompanies SUNfarming on mezzanine financing for a photovoltaic portfolio with 116 MWp in Germany
Frankfurt am Main (renewablepress) - HANSAINVEST Real Assets GmbH is expanding its financial commitment in the field of renewable energies and investing approx. 23 million euros in a portfolio of 85 solar parks in Germany. The mezzanine capital is being invested as a subordinated loan in the independent energy generator BPG IPP GmbH & Co. KG (BPG IPP), which has been specially founded by the SUNfarming Group for this purpose. The owner-managed company domiciled in Erkner near Berlin will use the financing for the development of additional solar parks. The mezzanine financing has a term of as much as 20 years; the issuer is BPG IPP.
The 85 solar parks are located in the federal states of Mecklenburg-West Pomerania, Brandenburg, Saxony, Saxony-Anhalt and Thuringia. The total output is approx. 116 megawatt-peak (MWp). HANSAINVEST Real Assets was advised on the transaction by fieldfisher, renerco plan consult and Baker Tilly. Capcora was the exclusively mandated financial advisor for the SUNfarming Group.
“We are expanding our presence on the German photovoltaic market to include a number of high-quality plants and are thus attaining a cash flow that is plannable in the long term – with extremely lean cost structures. The low volatility of electricity production with photovoltaic plants as well as the fixed, state-guaranteed feed-in tariffs over 20 years ensure that forecasts may be made with a high degree of reliability,” explains Christoph von Geldern, head of the Portfolio Management Infrastructure division at HANSAINVEST Real Assets.
“HANSAINVEST Real Assets is the ideal partner for BPG IPP. The instrument allows us the financial leeway to push ahead with our expansion in Germany and abroad. We are convinced that the solar transition is only just beginning and that it will offer significantly greater opportunities in the future. This fresh capital gives us the possibility to actively shape the future photovoltaic landscape in Germany, and also in Europe and Africa,” says Martin Tauschke, the managing director of the SUNfarming Group and BPG IPP.
"We are pleased to have participated in this transaction from the very first idea. SUNfarming and HANSAINVEST have discovered the benefits of mezzanine financing - an instrument that in our view will be required more and more in the future and will continue to be institutionalized, "explains Alexander Enrique Kuhn, Managing Director and responsible for Energy and Infrastructure at Capcora.
About HANSAINVEST Real Assets
HANSAINVEST Real Assets GmbH stands for long-term experience and sustainable investments in the real estate and infrastructure sector. In total, around 85 employees manage assets of over EUR 5.2 billion.
In the real estate segment, the internationally positioned experts manage office, retail, hotel, logistics and residential properties in 19 countries. In addition to portfolio management, the areas of acquisitions and sales, asset management and project development are also covered.
In the infrastructure segment, the international portfolio of infrastructure investments is managed with a volume of around EUR 710 million. Other services include the acquisition of assets and continuous portfolio management.
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.
The international team of experienced commercial staff, engineers and technicians has successfully installed a capacity of more than 500 MWp. In addition, SUNfarming assumes the technical operation and some of the commercial services for over 280 MWp for other companies in Germany and abroad.
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.
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Frankfurt am Main, 17 May 2019
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