December 23 (Renewables Now) - Real estate focused consultancy Capcora said today it has arranged mezzanine bridge financing of EUR 10 million (USD 11m) for an undisclosed customer so it could finance onshore wind projects in Germany.
A portion of the funds are allocated for the recapitalisation of tied-up equity in an existing 15-MW project. The balance will be used to acquire new wind projects, according to the announcement.
The financing is in the form of a one-year bearer bond, with a bullet repayment.
Capcora managing partner Alexander Enrique Kuhn noted that this is the fourth mezzanine financing closed by the firm this year.
“With the closing of this transaction, we were able to raise mezzanine capital for wind and solar projects with a capacity of more than 350 MW this year and are thus setting new standards in terms of this financing scheme," Kuhn stated.
(EUR 1.0 = USD 1.107)