Capcora secured approximately EUR 11 million in mezzanine financing from Prime Capital's PSIDEF for a solar PV project in Brandenburg, Germany, set to commence construction in Q2 2024.

Information on the Target

Capcora has successfully secured approximately EUR 11 million in mezzanine financing for a solar photovoltaic (PV) project located in Brandenburg, Germany. This funding is provided by the Prime Sustainable Infrastructure Debt Fund (PSIDEF), which is managed by Prime Capital AG and currently in its fundraising stage for additional close investors. The financing will primarily support the late-stage development and construction costs of the project, which has a capacity of 80 MWp and is scheduled to commence construction in the second quarter of 2024 with a planned commercial operation date in April 2025.

The project aims to optimize its procurement process, particularly concerning the acquisition of long-lead items essential for the construction. As the project progresses into the construction phase, further arrangements for senior financing will be established, ensuring a streamlined financial structure that supports the project's development timeline.

Industry Overview in Germany

The renewable energy sector in Germany has been undergoing significant transformation, particularly in the solar segment, which has seen a remarkable resurgence over the past decade. Government policies and incentives aimed at promoting the transition to su