SUNfarming acquires further projects in Poland

SUNfarming Group is expanding its Polish portfolio by a total of 60 MW by the end of 2021. The total of 48 solar projects were acquired from various Polish developers, some of whom SUNfarming has already worked with in the past. The largest transaction comprises a project portfolio with approx. 37 MWp, for its construction financing SUNfarming was able to gain a new financing partner with the help of Capcora.

SUNfarming acquired further ready-to-build photovoltaic projects with secured tariffs in December 2021 – the largest portfolio with 37 MWp consists of 39 individual projects that secured a “Contract for Difference” (CfD) in the auction in June 2021. The two other acquisitions with 16 MW and 7 MW are also solar projects that received a 15-year CfD.

SUNfarming has already been able to secure the construction phase financing for all projects in order to ensure that the projects can be implemented in a timely manner. In this context, SUNfarming was partly able to draw on its existing bridge financing line of EUR 35 million or to expand the financing framework with existing partners. For the largest acquisition, SUNfarming used the credit of a new partner. This challenging transaction was completed in less than 6 weeks.

“Thanks to a good and professional cooperation with our advisors, we were able to acquire three portfolios from different sellers in December 2021 alone, while securing financing from three different lending institutions. We would like to thank our existing and also new financing partners for their trust and look forward to the realisation of the projects in 2022,” said Anna Pilarczyk-Naprawski, Managing Director Poland of the SUNfarming Group.

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