ENERPARC & SICORE closed €100M PV financing for 800 MW in Germany

Hamburg, Germany-headquartered ENERPARC AG has secured €100 million (~$ 114.77 million) in mezzanine financing from SICORE Real Assets. The subordinated loans carried terms of up to 22 years. Funds were allocated to three HoldCos of ENERPARC AG. These HoldCos owned nearly 800 MW across 30 solar PV parks. The parks were locatedmainly in Rhineland-Palatinate, Schleswig-Holstein, and Brandenburg. ENERPARC planned to use the capital to develop more solar parks. The financed assets were expected to reach 800 MW in total output. The portfolio included EEG, PPA structures, and a small merchant tail. Capcora acted as ENERPARC’s exclusive financial advisor. SICORE Real Assets was advised by Fieldfisher, renerco plan consult, and Baker Tilly. ENERPARC was advised by Simmons & Simmons.ENERPARC AG, also expanding its footprint in India, announced plans to develop a 35 MW C&I solar project in Gujarat.