Press releases

Capcora arranges development funding line for greenfield onshore wind projects with 82 MW in Germany, France and Belgium.

Frankfurt am Main, 26.04.2019

The consulting firm Capcora, specialized on real assets, has arranged a bridge finance facilty for a leading German project developer to finance the project development costs for a portfolio consisting of five onshore wind projects with a planned total nominal output of 82 MW. The funds will be provided over a period of approximately 3 years with a prolongation option.

The project development funding facility was taken up by a newly established holding company of the Sponsor. The bridge financing will be used to replace the required equity capital for the development of three wind projects in Germany with a total of 34 MW and two wind farms in France and Belgium, each with an expected capacity of 24 MW.

The financing facility was developed in close coordination with the lender and follows the logic that a pooling of several projects reduces the risks of project development, which are usually difficult to finance. This is achieved through diversification across different wind locations and countries as well as through different levels of project maturity. By achieving defined development milestones, the framework can be further increased. In addition, projects can be exchanged during the agreed financing period.

This innovative financing solution is unique in the market as it focuses purely on a portfolio of greenfield projects. After the portfolio or individual projects have reached the approval phase, the line can be redeemed.

"Often, project developers are only offered equity solutions for greenfield projects - ie the sale of the projects at an early stage. However, this means foregoing a certain margin. This innovative solution gives our client the opportunity to further develop a significant part of its pipeline without mobilizing any additional own funds and, at the same time, to participate in the subsequent value creation by maintaining the owner of the assets, "explains Alexander Enrique Kuhn, Managing Director and responsible for energy and infrastructure at Capcora.

With a track record of approximately 800 MW of installed onshore wind power and over 360 wind turbines in Europe, the Sponsor is one of the largest project developers in Germany.

About Capcora:

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.