SUNfarming acquires further projects in Poland

Capcora advised SUNfarming on new bridge financing in Poland
© CapcoraFrankfurt am Main (renewablepress) - SUNfarming Group is expanding its Polish portfolio by a total of 60 MWp by the end of 2021. The total of 48 solar projects were acquired from various Polish developers, some of whom SUNfarming has already worked with in the past. The largest transaction comprises a project portfolio with approx. 37 MWp, for its construction financing SUNfarming was able to gain a new financing partner with the help of Capcora.

SUNfarming acquired further ready-to-build photovoltaic projects with secured tariffs in December 2021 - the largest portfolio with 37 MWp consists of 39 individual projects that secured a "Contract for Difference" (CfD) in the auction in June 2021. The two other acquisitions with 16 MW and 7 MW are also solar projects that received a 15-year CfD.

SUNfarming has already been able to secure the construction phase financing for all projects in order to ensure that the projects can be implemented in a timely manner. In this context, SUNfarming was partly able to draw on its existing bridge financing line of EUR 35 million or to expand the financing framework with existing partners. For the largest acquisition, SUNfarming used the credit of a new partner. This challenging transaction was completed in less than 6 weeks.

"Thanks to a good and professional cooperation with our advisors, we were able to acquire three portfolios from different sellers in December 2021 alone, while securing financing from three different lending institutions. We would like to thank our existing and also new financing partners for their trust and look forward to the realisation of the projects in 2022," Anna Pilarczyk-Naprawski, Managing Director Poland of the SUNfarming Group, is pleased to say.

"2021 was one of the most successful years in our company's history. Especially our Polish business is booming. We entered the market about 6 years ago and are happy to see that the hard work of the last years is bearing fruit. With the latest acquisitions, our portfolio has grown to almost 145 MWp and the target of 200 MWp by 2023 is now within reach," continues Martin Tauschke, Managing Director and co-partner of the SUNfarming Group.

SUNfarming was supported in the transactions by Rödl&Partner (M&A, due diligence) and Bird&Bird (financing) as legal advisors and by Capcora as financial advisor.


About SUNfarming

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 650 MWp. In addition, SUNfarming assumes the technical operation and some of the commercial services for over 350 MWp for other companies in Germany and abroad.

www.sunfarming.de


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. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).

www.capcora.com


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Caption: Capcora advised SUNfarming on new bridge financing in Poland
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Frankfurt am Main, 17 January 2022


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