7C Solarparken increases EUR 26m to fund portfolio development

• German photovoltaic (PV) plants proprietor 7C Solarparken AG (ETR: HRPK) has actually increased EUR 25.8 million (USD 30.37 m) in gross earnings as part of a share concern and also the fresh resources will certainly be utilized to broaden the company's capacity to 500 MWp.

A total of 6.94 million new shares have actually been marketed to institutional capitalists in Germany and also Europe at a rate of EUR 3.72 apiece as part of an exclusive positioning, 7C Solarparken stated on Monday.

The purchase was organized by MM Warburg and Hauck & Aufhaeuser.

The Bayreuth-based business has modified its portfolio expansion target and now intends to get to 500 MWp, of which 400 MWp capability in full possession of the team, by the end of 2022 rather than 2023 as at first planned. At the end of March, 7C Solarparken's combined IPP portfolio got to 301 MWp with most of setups located in Germany, predominantly in Bavaria as well as Saxony.