SUNfarming obtains funding to buy and develop 20-MWp Polish solar portfolio

• German solar design firm SUNfarming GmbH has safeguarded financing for the acquisition and also building and construction of a 20-MWp solar portfolio in Poland.

The firm has actually gotten a new bridge financing facility of EUR 9.5 million (USD 11m) to acquire as well as construct the portfolio which comprises 23 ground-mounted solar (PV) systems with specific sizes of approximately 1 MW, said consulting company Capcora, which acted as economic expert tasked with structuring of the transaction as well as financial debt sourcing.

The projects are shovel-ready and will certainly be integrated in phases. Building and construction of the first arrays will begin in the short-term, with completion due in the very first quarter of 2022. All projects have been granted 15-year contracts for difference in a December 2020 public auction.

Added similar portfolios are currently in last purchase settlements, according to the statement.

"With this procurement, we expand our existing portfolio to 84 MWp and come a great step better to our objective of 200 MW by 2023," stated Anna Pilarczyk-Naprawski, handling supervisor Poland of SUNfarming Team.

Martin Tauschke, handling supervisor as well as co-partner of SUNfarming Group, explained the procurement as one more intermediate step in the direction of the execution of larger power acquisition arrangement (PPA) projects in Poland.