Frankfurt am Main, 11.10.2019
Capcora, a consulting firm specialized on real assets, advised a leading German project developer on the expansion of an existing development bridge financing facility by adding new onshore wind project developments to the framework. The initial financing structure for a wind portfolio with 82 MW in Germany, France and Belgium was only launched in April 2019. The portfolio will be extended by new projects with a planned capacity of approx. 47 MW in Germany to a total volume of 129 MW.
The expansion capital is intended to finance the development costs of four German wind projects with a total of 10 wind turbines in the federal states of Brandenburg, Thuringia and Mecklenburg-Vorpommern.
The financing was structured as a bond with multiple tranches. The introduction of the new projects fully utilizes the overall issue amount. At the same time, the projects which have been added increase the degree of diversification within the financing structure, which leads to a win-win situation for the lender and borrower.
"We are pleased to continue contributing to the optimization of this unique transaction structure for greenfield projects. The decided adjustment of the portfolio and contract structure, which was not initially planned, underlines the flexibility of this innovative financing form ", explains Alexander Enrique Kuhn, managing director and co-responsible for the energy and infrastructure sector at Capcora.
The client of Capcora is one of the largest project developers in Germany with a track record of approximately 800 MW of installed onshore wind power and over 380 wind turbines in Europe.
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources.