Finance Raising

Project Financings

  • 7.4MW Solar PV projects, Czechia: EnerCap advised the three PV projects on raising CZK 727 million in non-recourse project finance from UniCredit Bank Austria. The financing was initially structured as individual debt tranches to all three projects which then converted to a single facility when all three projects were merged into a single SPV.
  • 22MW Windfarm, Poland: EnerCap advised the Polish SPV on raising EUR 41.8 million in non-recourse project finance plus a PLN 23 million VAT facility from ING Bank Śląski for the construction of the windfarm.
  • 42MW Windfarm, Croatia: EnerCap secured EUR 50.6 million of non-recourse debt, plus a HRK 65 million VAT facility for the Croatian project company from Erste Group and UniCredit Bank Austria for the construction of the windfarm. The debt facilities were guaranteed by the Danish export credit agency EKF to lower the all-in financing costs.
  • 80MW Windfarm, Romania: EnerCap brought in its relationship banks to complete this A/B loan financing from the EBRD and backed by Erste Group, ING and UniCredit. Total non-recourse debt raised was EUR 89.0 million together with a RON 27.6 mil VAT facility.
  • 18MW Windfarm Refinancing, Czechia: EnerCap advised the project company on refinancing its senior debt whilst securing a debt write-off from the existing lender. The refinancing facility included raising CZK 498 million of non recourse debt whilst also incorporating a reduced margin, lower hedging costs and improved repayment profile allowing earlier distributions to the shareholder.
  • 42MW Windfarm Refinancing, Croatia: EnerCap raised EUR 36.2 million for the refinancing of the 42MW Obrovac windfarm located in Croatia. The refinancing extended and improved the terms of the original financing, whilst moving to a two-bank club deal with local Croatian banks.

Co-Investment / Mezzanine Finance

  • 42MW Windfarm, Croatia: As part of the financing of the Obrovac windfarm, EnerCap secured EUR 5.0 of co-investment from CETF, a private equity fund based in Istanbul which allowed the EnerCap Power Funds to further leverage their returns.