Press releases

Capcora organizes bridge financing for German PV rooftop plants with 5.5 MWp of FPM Projektmanagement in record time.

Frankfurt am Main, 13.05.2019

Jever based Fellensiek Projektmanagement GmbH & Co. KG ("FPM Projektmanagement") has raised a bridge financing facility for the construction of 17 photovoltaic roof projects in Germany with an envisaged total nominal output of 5.5 MWp. The consulting firm Capcora, specialized on real assets, was mandated for the transaction as financial advisor which was closed within only 4 weeks.

The photovoltaic systems with a capacity of up to 750 kWp are entirely roof-top projects in Germany. These are still remunerated with a fixed feed-in tariff over 20 years. The project portfolio, which is partly under construction, is scheduled to go into operation by the third quarter of 2019.

One of the largest projects in the portfolio consists of two individual projects with a total capacity of 1 MWp, which will be built on a company premises of a medium-sized industrial enterprise. The special feature of the project development is that a part of the electricity is to be purchased via a so-called Corporate PPA (Power Purchase Agreement) with a term of 20 years.

The aim of FPM Projektmanagement is to refinance the project portfolio after its completion via a classic project financing by a bank. The bridge financing should then be redeemed via the bank funds. With the bridge facility, the initiator pursues the aim of accelerating the construction of the projects in order to put them as early as possible into EEG commissioning, which is decisive for the amount of the respective feed-in tariff.

"We are very proud that we were able to set up this bridge financing within only 4 weeks. It will enable us to accelerate the construction of our roof-top portfolio," says Torsten Fellensiek, managing partner of FPM Projektmanagement.

"This is our second transaction of its kind in a short time. We are pleased that we have been able to provide FPM Projektmanagement with a decisive element in achieving its goals," says Alexander Enrique Kuhn, Managing Partner of Capcora.

About FPM Projektmanagement:

Fellensiek Projektmanagement GmbH & Co. KG is based in Jever since 2012. With more than 25 years of experience in project management, FPM develops, builds and operates projects in the fields of photovoltaics, wind power and real estate in Germany and in other European countries. The entire value chain is covered, from the acquisition of suitable land to the marketing of the renewable electricity. Since 2018, the company has also supported social, cultural and environmental projects within the framework of the non-profit society "de Mood".

About Capcora:

Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources.