Enerparc obtains financing for 325-MW solar portfolio in Germany

German solar developer Enerparc AG said on Thursday it has secured bridge financing for a 325-MW solar project portfolio from French investment firm Eiffel Investment Group.

The portfolio consists of 15 solar photovoltaic (PV) and hybrid projects encompassing battery storage. Ranging between 6 MWp and 39 MWp in size, the projects are located in the states of Rhineland-Palatinate, Schleswig-Holstein and Brandenburg. Most of them are either built or will be commissioned soon.

The portfolio is backed by various revenue streams, including feed-in tariffs under the Renewable Energy Act (EEG), income from innovation tenders due to the addition of battery storage, as well as several power purchase agreements (PPAs), using both baseload and pay as forecasted offtake schemes.

"With the successful completion of this transaction, we have finalised the financing for an extensive portfolio. Most importantly, we have expanded our network of financing partners by adding a new partner from the debt fund sector," said Marco Langone, Head of Finance at Enerparc.

The deal marks the first German transaction of Eiffel Energy Transition III, the third vintage of the Eiffel Energy Transition programme, noted Pierre-Antoine Machelon, Managing Director, Eiffel Investment Group.

Capcora acted as financial advisor to Enerparc.

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