ENERPARC AG has successfully secured bridge financing for a project portfolio consisting of solar PV and hybrid projects including battery storage (BESS) with an aggregate capacity of 325 MW. The financing was provided by the renowned French investment firm, Eiffel Investment Group, with Capcora acting as the exclusive financial advisor to ENERPARC throughout the process.
The portfolio includes fifteen photovoltaic projects located in the states of Rhineland-Palatinate, Schleswig-Holstein and Brandenburg. The projects vary in size, with the smallest at approximately 6 MWp and the largest at 39 MWp. Most of these projects are either constructed or about to reach completion and will 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.
“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 ENERPARC.
“We are pleased and proud to initiate this new collaboration with ENERPARC, the leading European independent solar IPP. This transaction is another proof of Eiffel’s ability to provide an innovative construction financing adapted to the new business models (PPA, BESS). This transaction is the first German transaction of Eiffel Energy Transition III, the third vintage of our Eiffel Energy Transition program,” added Pierre-Antoine Machelon, Managing Director, Eiffel Investment Group.
Alexander Kuhn, Managing Partner at Capcora, added: “This transaction once again demonstrates our ability to successfully conclude complex financing projects and provide our clients with the best possible solutions. We are thrilled to witness the alliance of two influential entities in the European renewable market, highlighting our dedication to fostering industry collaboration.”
ENERPARC was supported by Capcora as financial advisor and Simmons&Simmons as legal advisor. Eiffel Investment Group was advised by Bird&Bird as lenders legal counsel.
About ENERPARC
The internationally active specialist for solar power plants in the megawatt segment is active as a developer, builder, operator and investor of large-scale solar power plants. Founded in Hamburg in 2008, the company now employs over 500 people and, in addition to its core market of Germany, is also active in Spain, France, Portugal, India and Australia. In recent years, ENERPARC has successfully connected more than 600 solar plants with a capacity of over 4,500 MW to the grid worldwide – 3,450 MW of it with its own solar power plants – and has risen to become one of the largest independent power producers for solar energy in Europe. By 2030, ENERPARC’s goal is to develop a total of 10 GW of PV plants worldwide for its own portfolio and another 10 GW for third-party solar portfolios.
www.enerparc.com
About Eiffel Investment Group
Eiffel Investment Group is an asset manager with ca. €6 billion under management (data as of end of 2023, including undrawn commitments). Eiffel Investment Group’s clients are large institutional investors (insurers, mutual funds, pension funds, banks, large family offices, and public investors) as well as individuals, through intermediary distribution.
Eiffel Investment Group cultivates a strong industrial expertise, particularly in the field of energy transition, but also in health, agri-food and digital. It finances companies and their assets through four main strategies: private debt, energy transition infrastructure, private equity, and listed equities and credit.
Eiffel Investment Group’s mission is to invest for a sustainable world. Its investment strategies aim to generate not only a strong financial performance but also a positive impact on the environment and society.
The Eiffel Investment Group team has approximately 100 talented employees, mainly in Paris, with presence in Amsterdam, Warsaw, Abu Dhabi and New York. The Eiffel Energy Transition III fund is exclusively reserved for professional clients.
www.eiffel-ig.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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