DGAP-News: Capcora GmbH / Keyword (s): Financing
03.08.2021 / 10:00
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Capcora has set up a 16.5-year term credit facility in the amount of 12 million euros for one of its international clients. The loan represents the first tranche of a larger framework agreement and is dedicated to the financing of a sub-portfolio of ten solar photovoltaic projects supported by a PPA with 33.5 MWp forming part of an 84 MWp cluster developed by Capcora’s client on the Spanish islands. Capcora acted as exclusive financial advisor throughout the transaction.

The initial phase includes ten photovoltaic projects with a size of between 2.20 and 4.20 MWp. The entire portfolio consists of 23 solar systems located on the islands of Mallorca and Ibiza. The energy produced was sold under a 10-year framework PPA that was concluded in December 2020 with the Spanish renewable energy retailer Holaluz Clidom SA.

Non-recourse financing was provided by a German commercial bank. The loan was structured at the level of a Spanish holding company and includes a commercial tranche and KfW. It lasts until December 2037 and therefore considers a significant market tail.

“We are proud to have supported our client in this strategically important transaction. A two-tier financial structure coupled with KfW financing and a PPA pricing mechanism created for several projects with different COD dates has significantly increased the complexity of the project. process, modeling and documentation. “, explains Alexander Enrique Kuhn, Managing Partner at Capcora.

The lender was advised by Simmons & Simmons as legal advisor and SOLpeg as technical advisor. Capcora acted as a financial advisor and unique model.

About Capcora:
Capcora is a consulting firm specializing in real estate assets. Capcora provides equity, mezzanine and debt financing for energy and infrastructure projects, real estate and mid-sized businesses. The focus is in particular on mezzanine financing for the recapitalization of liquidity tied up in operating assets as well as for the bridge financing of developments and construction measures in the field of renewable energies (photovoltaic, onshore wind power) and real estate through alternative sources of financing. In addition, Capcora acts as a transaction manager for mergers and acquisitions processes (buying and selling advice). www.capcora.com

08/03/2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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