Hungary’s solar projects get financial backing

GoldenPeaks Capital has secured financing for a 64.5 MWp PV portfolio in northeast Hungary, which includes two projects under construction. The financing was obtained from Erste Group, Erste Bank Hungary, and Schelcher Prince Gestion, with Capcora as the financial advisor. The senior loan is split between Erste Group and Erste Bank Hungary, while the junior financing is subordinated at the HoldCo level. The financing structure features a releveraging mechanism that allows for downsizing once PPAs are signed, and involved multiple advisors including Dentons, CMS, DLA Piper, Ganado Advocates, and DNV.