Frankfurt am Main, 28.07.2020
Photovoltaics specialist ENVIRIA issued a bond in an amount of EUR 2.5 million in a private placement. The funds will be used to finance the construction of a photovoltaic portfolio with a total of 3.5 MWp. The two Frankfurt based companies already successfully worked together in April in structuring a bridge financing line in the amount of EUR 5 million.
The collateralized bond with a maturity in end of May 2021 was taken up at project company (SPV) level. It will be used to finance ten photovoltaic roof systems, each under 750 kWp, with feed-in tariffs between 7.3 and 8.0 EUR cents per kWh. Upon availability for withdrawal of bank financing, ENVIRIA can use an early prepayment option to redeem the facility.
“This is the second bridge financing that we have been able to put in place in a short time. The existence of flexible financing instruments remains a major bottleneck. We are pleased that we were able to convince a new partner of our implementation power,” said Melchior Schulze Brock, managing director of the ENVIRIA Group.
ENVIRIA is one of the fastest-growing companies in the roof-mounted solar market and develops tailor-made solar power plants on commercial roofs. From conception to grid connection, ENVIRIA acts as investor, project developer, installer and operator, creating added value by combining capital, unused real estate potential and the sustainable goals of its customers. In implementing our projects, we rely on forward-looking electricity marketing concepts, sophisticated financing models, mature technology and a lean cost structure. www.ENVIRIA.energy
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.