Eastern European solar investor GoldenPeaks Capital (GPC) has successfully concluded the financing for a portfolio encompassing 72MW of solar projects distributed across Poland. The projects, forming GPC's “Charlie” portfolio, consist of 55 individual solar projects ranging in size from 1MW to 8MW.
The financing arrangement, recently completed, involves a banking consortium led by DNB Bank ASA and PKO Bank Polski. The projects' revenues are safeguarded through a euro-denominated corporate power purchase agreement. Capcora, a German consulting company, played a crucial role as the exclusive financial advisor to GPC during this transaction.
GoldenPeaks Capital is recognized as one of the swiftly expanding independent green power producers in Europe and holds a prominent position as one of the largest solar photovoltaic asset owners in Poland. The operational phase of the Charlie portfolio is set to benefit from a euro-denominated power purchase agreement, providing financial stability.
Daniel Tain, President of GPC, emphasized the significance of the Charlie portfolio, stating, “The Charlie portfolio exemplifies our ability to ensure the bankability of these projects. We are pleased that such reliable and committed partners as PKO Bank Polski and DNB support us in achieving our goal of accelerating the region's transition to renewable energy.”
Capcora's Bartek Hofman highlighted GPC's forward-thinking approach, expressing pride in the collaboration and its contribution to forming an exclusive lending consortium. Hofman noted, “This collaboration reflects our shared commitment to pushing boundaries, embracing innovation, and driving positive change for our clients in Poland. Together, we aim to set new standards and make a lasting impact in the Polish financing landscape.”
Dentons provided advisory services to GPC, while CMS worked with PKO Bank Polski and DNB Bank ASA on documentation and legal due diligence. Green Energy Venture AG acted as the technical advisor to the lenders in the transaction.