GoldenPeaks Capital secures project financing from PKO Bank Polski and DNB Bank ASA

GoldenPeaks Capital receives project financing in Poland on the basis of a Euro PPA
© CapcoraFrankfurt am Main (renewablepress) - GoldenPeaks Capital (“GPC”), one of the fastest growing independent producers of green energy in Europe, has successfully completed the financing of a portfolio of solar PV projects with a total capacity of 72.0 MWp located in various regions of Poland. The project's revenues are hedged through a Euro-denominated corporate power purchase agreement. The financing package was provided by a banking club consisting of DNB Bank ASA and PKO Bank Polski. Capcora, a German consulting company, acted as the exclusive financial advisor to GPC.

GoldenPeaks Capital is one of the fastest growing independent green power producers in Europe and one of the largest photovoltaic system owners in Poland.

Its “Charlie” portfolio consists of 55 individual solar projects, spreading across Poland, with size ranges from 1 MWp to 8 MWp. Throughout its operational phase, the portfolio will benefit from a Euro-denominated Power Purchase Agreement.

Daniel Tain, President of GPC: “GPC has solidified its standing in Poland as a seasoned provider of long-term, Euro-denominated Corporate Power Purchase Agreements (PPAs) to some of the world's leading multinational corporations. The Charlie portfolio exemplifies our ability to ensure the bankability of these projects. We are pleased that such reliable and committed partners as PKO Bank Polski and DNB support us in achieving our goal of accelerating the region’s transition to renewable energy.”

Marcin Majewski, Head of Corporate Client and Enterprise Relations Division PKO Bank Polski: “PKO Bank Polski is the leader in financing the green transformation in Poland. We are proud to support GPC in the implementation of renewable energy projects, which is part of our policy of promoting the development of renewable energy. As the largest Polish bank for business, we want to jointly counteract climate change and contribute to increasing the share of green energy in the national energy mix.”

Ewa Banasiuk, Head of Renewable Energy at DNB Bank Polska said: “By pioneering the introduction of Euro PPAs for solar projects in the Polish Zloty market, GPC is making a significant and groundbreaking contribution to the sector. We take immense pride in our role as a financial partner, supporting and enabling a key player in the market and boosting green transformation of Poland. This partnership underscores our commitment to advancing renewable energy solutions and sustainability while fostering innovation within the industry.”

Bartek Hofman Director at Capcora and head of the Polish branch stated: “GPC is undeniably one of the most advanced and forward-thinking players in the Polish market. We are immensely proud to work with them and being able to contribute to the success of the transaction by helping to form an exclusive club of two lenders. This collaboration reflects our shared commitment to pushing boundaries, embracing innovation, and driving positive change for our clients in Poland. Together, we aim to set new standards and make a lasting impact in the Polish financing landscape.”

GPC was advised by Dentons while PKO Bank Polski and DNB Bank ASA worked with CMS on both documentation and legal due diligence. Green Energy Venture AG acted as technical advisor to the lenders.


About GoldenPeaks Capital

GoldenPeaks Capital, is a company specializing in the construction and operation of solar systems and one of the largest photovoltaic system owners in Poland and Hungary. GoldenPeaks Capital will further increase the pace of shaping the industry of renewable energies in Eastern Europe by applying the seamless integration of all sectors of GPC, such as manufacturing, project development & engineering, financing & structuring, supply chain management, construction & commissioning, asset operations, and commercial & energy sales among others, ensuring an invaluable alignment of methodologies, ethics and goals.

www.goldenpeakscapital.com


About Capcora

Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.

www.capcora.com


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Caption: GoldenPeaks Capital receives project financing in Poland on the basis of a Euro PPA
© Capcora


Frankfurt am Main, 07 December 2023


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