Frankfurt am Main, 21.12.2018
The consulting firm Capcora, specialized on real assets, has successfully arranged another mezzanine bridge loan for the acquisition of an operating onshore wind farm consisting of five wind turbines and with a total capacity of 15 MW. Capcora was mandated in mid-November by a Dutch asset manager to procure the mezzanine financing. After the selection of the investor the financing was closed within only 3 weeks.
The wind farm, located in northeastern part of Germany, has been in operation since the end of 2017 and consists of five Enercon E115 3.0 MW wind turbines with a total capacity of 15 MW. The BImSchG approval for the project was granted in 2016. Thus, the project still receives a fixed feed-in remuneration in accordance to EEG 2014, which has now been replaced by the EEG 2017 and an auction model. The wind farm produces over 39 million kWh of electricity per year and can thus supply about 13,000 households with climate-friendly energy.
The mezzanine financing serves as bridge financing for the acquisition of the wind farm. The funds enabled the buyer, an asset manager for retail and institutional fund vehicles, to close a short-term funding gap and complete the purchase transaction on time at the end of the year.
"We are very proud that we were able to keep the tight schedule in this transaction and to implement the tailor-made to our customer’s needs. With the completion of this transaction, we have been able to raise mezzanine capital for wind projects with a capacity of more than 120 MW within this year ", said Alexander Enrique Kuhn, managing partner and responsible for the energy and infrastructure division at Capcora.
Capcora is an on real assets specialized company consultancy and raises equity, mezzanine and debt capital for energy and infrastructure projects, real estate and mid-sized companies. The focus is in particular on mezzanine financing for the recapitalization of tied liquidity in existing portfolios as well as on interim financing of developments and construction measures in the field of renewable energies (photovoltaics, onshore wind) and real estate via alternative financing sources. www.capcora.com