SUNfarming Group from Erkner secures mezzanine financing in a double digit million amount. The subordinated debt was provided by a managed account, which is administered by Prime Capital AG (“Prime Capital”). The funds were raised in the form of bearer bonds at the level of group companies, which own solar parks with a capacity of 185 MWp. Capcora acted as exclusive financial advisor to SUNfarming in the transaction.
SUNfarming secures fresh growth capital to finance its further project pipeline in Germany. As part of a private placement, the company is issuing two project bonds with a double digit Euro amount. SUNfarming has already raised mezzanine capital for German and Polish projects in previous years and relies on partnerships with renowned institutional addresses that have focused on secure investments.
“Thanks to this transaction, we were once again able to generate considerable liquidity from our existing portfolio. These additional financial resources enable us to finance our growth, especially in Germany, and successfully drive forward our ongoing projects,” says Martin Tauschke, Managing Partner at SUNfarming Group.
“We are pleased to announce our second mezzanine financing with SUNfarming this year. This underlines the importance of long-term partnerships and the resulting added value in complex transactions,” explains Bernhard Hofmann, Director in Capcora’s Energy and Infrastructure division.
Prime Capital was supported in this transaction by Simmons & Simmons as legal advisor and meteocontrol as technical advisor as well as Eight Advisory (tax) and EURO Transaction Solutions (insurance). On the SUNfarming side, Hogan Lovells acted as legal advisor and Capcora as exclusively mandated financial advisor.
About SUNfarming
Since the company was founded in 2004, SUNfarming GmbH has covered the entire project development and EPC (Engineering, Procurement, Construction) value chain: starting with planning, development and financing, through construction to monitoring and maintenance of solar parks and related concepts such as agro-photovoltaics (Food & Energy). The company has a long-standing customer structure of capital investors, municipalities, users of commercial and private own power plants as well as sister companies of SUNfarming Group AG investing in solar plants. The international team of experienced businessmen, engineers and technicians has already successfully realized a plant output of more than approx. 650 MWp. For more than 350 MWp in Germany and abroad SUNfarming takes over the technical management.
www.sunfarming.de
About Prime Capital
Prime Capital AG is an independent financial services provider and asset management firm, focusing on institutional clients. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure Investments and Private Debt. Furthermore, the company offers Investment Advisory Solutions and Access Solutions. Prime Capital was founded in 2006 and currently employs around 130 people in Frankfurt, London and Luxembourg. The company’s regulators are BaFin in Germany and the CSSF in Luxembourg. As of June 2023, Prime Capital has more than EUR 4.3 billion Assets under Management, as well as over EUR 8.6 billion Assets under Administration, managed on various platforms (as of 30 June 2023).
www.primecapital-ag.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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