Press Release
Publisher: Capcora GmbH
NEAG receives onshore wind funding: a facility for different project stages
NEAG receives facility for different project stages
© CapcoraFrankfurt am Main (renewablepress) - Hamburg based independent power producer (“IPP“) NEAG Norddeutsche Energie AG (“NEAG“) secured an innovative financing facility dedicated to fund onshore wind projects in development phase, projects under construction and a portfolio of operating assets. The revolving credit facility in an amount of EUR 35m includes senior and mezzanine elements and was secured at the level of the newly established holding company NEAG Norddeutsche Energie Development GmbH. Capcora was mandated as exclusive financial advisor and responsible on structuring and sourcing.
The financing scheme consists of three different tranches with different use of funds. One tranche is dedicated finance greenfield projects in Germany, France and Belgium with an expected total capacity of 300 MW. Another pot will be used to provide bridge financing to German wind projects under construction. The last tranche was granted based on operating projects.
The financing structure is unique as it covers three types of assets in one facility. Furthermore, it was structured in the format of a revolving facility which allows the exchange of projects during the term of the facility, which is 3 years.
“A facility structured in such a way, tailored to the needs of an IPP is not common in the market. We are proud to have developed together with the Capcora specialists an innovate financing facility which exactly meets our different funding needs. This instrument will allow us to accelerate the growth of our portfolio in Germany and Benelux in various aspects. First of all, we can limit our equity requirements during the various stages of acquisition. Furthermore, we can easily replace projects, navigate liquidity into projects where we demand it and at the same time flexibly redeem tranches as soon as cheaper sources of financing can be accessed. “, says Christian Bähringer, CEO of NEAG.
“We are happy to expand our cooperation with NEAG by implementing another landmark transaction. The combination of creating a revolver which includes greenfield and brownfield assets is fairly unique in the market and underpins our expertise in structuring value-added and complex financing schemes “, says Bernhard Hofmann, Senior Vice President at Capcora.
About NEAG Norddeutsche Energie AG:
NEAG Norddeutsche Energie AG is an infrastructure investor and asset manager specializing in renewable energies. As an independent energy producer (IPP) founded in Hamburg in 2016, NEAG Norddeutsche Energie AG has assets under management of around 350 million euros. The company's electricity production in 2019 totaled over 400 gigawatt hours. The investors in the investment vehicles initiated by NEAG are institutional investors with a focus on long-term, stable cash flows and a long-term interest in investing in professionally managed renewable energy assets.
www.ne-ag.com
About Capcora
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.
www.capcora.com
Download pressphoto:
https://www.renewablepress.com/press-images/capcora/97b48_20-11-02-NEAG-onshore-wind-funding.jpg
Caption: NEAG receives facility for different project stages
© Capcora
Frankfurt am Main, 03 November 2020
Publication and Reprint free of charge; please send a voucher copy to Capcora GmbH.
Attention editorial offices: For further questions please contact
Media contact:
Capcora GmbH
Alexander E. Kuhn
E-Mail: ak@capcora.com
Tel: +49 (69) 348 710 111
Fax: +49 (69) 348 710 199
Capcora GmbH
Savignystraße 43
60325 Frankfurt am Main
Web: https://www.capcora.com
Online press kit - all press releases from Capcora GmbH
Press photos for editorial use only
Note: For the content of this press release the issuer / publisher of the release is »Capcora GmbH« responsible.
More press releases from Capcora GmbH
- Alta Capital secures development funding for 840 MWp Pipeline in Italy
- SUNfarming reaches financial close on project financing for 26 MWp PV Portfolio in Poland
- SUNfarming secures EUR 10 million in fresh money for Poland
- ReneSola Power and Vodasun to form Joint Venture to develop solar projects in Germany
- MKM Invest Group and Prime Capital cooperate on cross-border junior debt financing for 579 MW PV Portfolio
- NEAG secures funding for the expansion of its French wind portfolio
- Juan Ruiz-Jarabo completes new senior trio at Capcora
- Obton secures subordinated debt facility for 30.4 MWp PV Portfolio in France
- Capcora hires investment specialist Andreas Bodensohn for energy & infrastructure tea
- Henning Prigge strenghtens Capcora's Energy & Infrastructure team