May 20 (Renewables Now) - German investment firm Hansainvest Real Assets is providing around EUR 23 million (USD 25.7m) in debt for the construction of a 116-MWp portfolio of solar parks in Germany.
The mezzanine capital is being invested as a subordinated loan in independent energy generator BPG IPP GmbH & Co KG, which has been set up by the Sunfarming Group for this purpose. The 20-year financing will back 85 solar projects, financial advisor Capcora said on Friday.
The specific portfolio is located in the states of Mecklenburg-West Pomerania, Brandenburg, Saxony, Saxony-Anhalt and Thuringia.
“We are expanding our presence on the German photovoltaic market to include a number of high-quality plants and are thus attaining a cash flow that is plannable in the long term – with extremely lean cost structures,” said Christoph von Geldern, head of the portfolio management infrastructure division at Hansainvest Real Assets.
Hansainvest Real Assets’ advisor in the deal was Fieldfisher, Renerco Plan Consult and Baker Tilly, while Capcora provided financial counsel to Sunfarming Group.
(EUR 1.0 = USD 1.117)