Germany's 7C Solarparken looks for to raise EUR 7.9 m in share issue

• German photovoltaic or pv (PV) plants proprietor 7C Solarparken AG (ETR: HRPK) has made a decision to launch a capital rise, looking for to raise up to EUR 7.9 million (USD 8.03 m) to finance investments and project growth plans.

The company will certainly release as much as 1.73 million new shares at a price of EUR 4.55 apiece, it claimed in a press release on Wednesday.

Existing investors are qualified to join the funding boost and sign up for shares from August 22 until September 5.

The purchase is taken care of by Hamburg-based exclusive bank M.M.Warburg.

The fresh resources will be used to finance scheduled investments and freshly determined chances in the project advancement company as 7C Solarparken intends to broaden its portfolio to 525 MWp by the end of 2024.

The Bayreuth-based firm has a solar portfolio of 352 MWp. Including property monitoring, the portfolio rises to 412 MWp.

More than 95% of the solar plants lie in Germany, mostly in Bavaria as well as Saxony.