German solar project developer SUNfarming GmbH has successfully secured financing to refinance a portfolio comprising 43 solar projects across Poland, with a collective capacity of 40 MWp.
According to a press statement released on Thursday, the company has procured a senior term loan amounting to PLN 118 million (USD 30.0m/EUR 27.6m) from PKO Bank Polski. The transaction was facilitated with the assistance of German consulting firm Capcora, which acted as the exclusive financial adviser.
Construction activities for the solar farms, averaging a size of 1 MWp each, are slated for completion by the conclusion of 2024. These sites stand to benefit from a 15-year Contract for Difference (CfD), secured through the 2020 solar auction conducted by the local Energy Regulatory Office.
SUNfarming currently boasts a portfolio of operational and ready-to-build solar projects totaling 140 MWp in Poland, making the country its second-largest market.
Earlier in 2023, the company had arranged EUR 50 million (USD 54.3m) in debt financing to accelerate the construction of 231 solar parks with a combined capacity of 257 MWp in Poland.
