February 6 (Renewables Now) - German independent power producer SUN IPP GmbH & Co KG, part of solar installer SUNfarming Gruppe, has obtained EUR 50 million (USD 53.9m) in debt financing to bankroll the construction of 257 MWp of solar projects in Poland.
The funding is being provided by Hansainvest Real Assets, the Hamburg-based investment firm said on Friday. Under the arrangement, mezzanine capital will be extended in the form of a subordinated loan with a term of 20 years.
The fresh funds are earmarked for the construction of 231 photovoltaic (PV) parks across Poland. Details about the specific projects and their exact locations were not available.
“We are pleased to celebrate our debut on the Polish renewable energy market with an existing partner, who at the same time has been active on the Polish market for many years now and already boasts a significant track record,” said Christoph von Geldern, head of Portfolio Management Infrastructure at Hansainvest.
Hansainvest’s advisor in the deal was Dentons, Renerco Plan Consult and Baker Tilly, while Capcora provided financial counsel to Sunfarming Group.
(EUR 1.0 = USD 1.079)
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