ENERPARC AG, a solar project developer, secured bridge financing for a 325 MW project portfolio consisting of solar PV and hybrid projects, including energy storage projects. The French investment firm, Eiffel Investment Group, provided the financing.
The portfolio consists of fifteen solar projects located in the states of Rhineland-Palatinate, Schleswig-Holstein, and Brandenburg. The projects vary in size, with the smallest at approximately 6 MW and the largest at 39 MW. Most of these projects are either constructed or about to reach completion and are expected to be commissioned soon.
The portfolio projects benefit from various revenue streams, including feed-in tariffs under the Renewable Energy Act (EEG), as well as from innovation tenders due to additional battery storage (BESS) capacity installed and several Power Purchase Agreements (PPAs), both including baseload and pay as forecasted offtake schemes.
Enerpac was supported by Capcora as financial advisor and Simmons&Simmons as legal advisor. Eiffel Investment Group was advised by Bird&Bird as the lenders legal counsel.
“With the successful completion of this transaction, we have finalized the financing for an extensive portfolio. Most importantly, we have expanded our network of financing partners by adding a new partner from the debt fund sector. This enables us to react even more flexibly to the constantly changing market conditions and to find optimal financing solutions for our growing portfolio,” said Marco Langone, Head of Finance at Enerpac.
According to Mercom’s Q4 and Annual Funding and M&A report, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.
ib vogt, a renewable energy project developer, achieved financial closure for a 418 MW solar PV portfolio in Spain. The PV portfolio consists of three projects clustered around Segovia, in the autonomous community of Castile and León, Spain.
