Enerparc has secured a €266 million financing package to support the development of a 400MWp pipeline of ground-mounted solar photovoltaic (PV) projects in Germany. The funding includes a €216 million senior secured project finance framework and a €50 million revolving credit facility (RCF).
The financing structure, designed with a portfolio approach, aims to accommodate a variety of revenue streams and ensure long-term financial sustainability for Enerparc's solar projects. Capcora served as the sole financial advisor in the transaction.
The project finance framework facility will allow Enerparc to finance clusters of solar PV assets as they reach the ready-to-build stage, with assets being rolled into the facility over the next 24 months. The long-term facility, which extends up to 24 years, will cover both the construction and operational phases, offering the company stability and flexibility in its expansion efforts.
A key aspect of the financing is its ability to support a mix of revenue sources, including Feed-in Tariffs (FIT) and Power Purchase Agreements (PPAs). The sizable revolving credit facility (RCF) will also provide early-stage access to funds, facilitating the development of future projects.
Marco Langone, Head of Finance at Enerparc, commented, “This financing agreement is a key enabler for us to scale up our solar PV portfolio and contribute significantly to Germany's energy transition. By securing flexible funding, we can construct projects with diverse revenue models, including EEG-backed assets, and unsubsidized PPA-backed solar projects.”
Enerparc's funding will help accelerate its expansion in the German solar market and support the country's transition to renewable energy.
