Sun Investment Group (SIG), a vertically integrated European renewable energy group, has secured a debt facility to support its 2GW solar pipeline in Poland.
The pipeline comprises mid- to late-stage solar projects in the country with a total capacity of 1970MW.
The facility was entirely subscribed by an international debt fund.
Capcora, a Germany based financial advisor, played a role in sourcing lenders and structuring the deal.
SIG’s dedicated pipeline includes 323 individual projects that range in size from 1MW to 120MW, including approximately 100MW at ready-to-build stage, alongside 1120MW of mid-stage and 750MW of early-stage projects.
The diverse portfolio, together with additional 190MW of ready-to-build projects in other portfolios in this market, “solidifies SIG’s role as a key player” in Poland’s renewable energy sector amongst other countries in Europe.
“We are pleased to have secured this debt facility with the assistance of Capcora.
“It will play a crucial role in advancing the realisation of our business plan in the coming years.
“The Polish market currently continues to be one of the most attractive arena for investors and lenders in Europe, offering alternative funding solutions.”, says Deividas Varabauskas, CEO at Sun Investment Group.
Bartek Hofmann, director at Capcora and head of the Polish branch, added: “We are delighted to have secured an alternative financing solution for SIG and successfully closed this transaction.
“The integration of projects at various stages and the substantial project volume make this achievement truly exceptional in the Polish market.”
SIG was advised by Deloitte Legal Poland and TGS Baltic as legal advisors with Capcora as financial advisor.