Press releases

Frankfurt am Main, 28.08.2024

Sun Investment Group (“SIG”), a vertically integrated European renewable energy group, has successfully secured a construction bridge facility totaling EUR 16 million from an international debt fund. This facility will support the capital required for the construction of a 29 MWp portfolio of merchant solar PV projects in Poland. Capcora, based in Germany, served as the exclusive financial advisor to SIG in this transaction.

The 25 individual fixed and tracker systems projects, ranging in size from 1 MWp to 4 MWp and located across Poland, will initially operate on a fully merchant basis. However, SIG retains the option to market the electricity generated through a power purchase agreement (PPA) in the future. All 25 individual photovoltaic projects are expected to be completed by end of 2024.

“We are pleased to announce that we have secured another bridge financing facility and established a relationship with a new lender. The bridge financing landscape in Poland continues to be dominated by debt funds, making it crucial for us to forge new relationships to secure the necessary funding for the construction of our projects, even in the absence of secured offtake via PPAs, which allows SIG more flexibility in the current selling process of these assets”, says Deividas Varabauskas, CEO at Sun Investment Group.

The facility has been established at the HoldCo level aligned with the construction timeline and initial operational years.

SIG was advised by TGS Baltic and Ontier Spain as legal advisors with Capcora as financial advisor.

About Sun Investment Group:

SIG group of companies started its activities in 2017 and currently unites more than 100 professionals in Europe (Poland, Italy, Spain and Lithuania). SIG's portfolio currently consists of more than 3 GW, of which nearly 300 MW are ready-to-build (RTB) projects. To this date, SIG has successfully developed, built, and sold more than 200 MW of solar power plants in UK, Poland and Lithuania. At present, SIG is starting the construction of over 60 MW of solar power plants in Poland for its sale to third parties. www.suninvestmentgroup.com

About Capcora:

Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.