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.
Hungary’s solar projects get financial backing
GoldenPeaks Capital’s Hungarian solar projects receive financial backing from major European banks. (Image Credit: GoldenPeaks)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)