Press releases

GoldenPeaks Capital secures senior and junior financing package for solar PV portfolio in Hungary.

Frankfurt am Main, 06.06.2024

secured both senior and junior facilities for our projects in Hungary marking another milestone in our history. Concurrently, we're welcoming two new strategic lenders to our network, crucial for our mission to be a leading Independent Power Producer (“IPP”) in the Central Eastern European (“CEE”) market. “

Marcus Hinrich Fischer, Executive Director for Corporate Finance Solutions at Erste Group: “Partnering with GoldenPeaksCapital, we have worked out a financial structure which gives more time and flexibility than usual to source and negotiate power purchase agreements with off-takers as one of the major commercial pillars of the project. Integrating junior debt from SPG into the financing provides for further optimization of the funding.”

Sándor Végh, Head of Structured Finance at Erste Bank Hungary: “We are proud of being the financing partner of Golden Peaks Capital with their first PV project in Hungary. We look forward to further strengthening our relationship with additional projects.”

Alexis Sarrazin, Director at SPG: “We're proud to collaborate with GPC, a highly respected IPP in the CEE region, and assist them in entering a new market. We are happy to contribute with a sophisticated and tailored financing solution.“

Bernhard Hofman Director at Capcora: “We are pleased to help engineering a tailor-made and unique financing scheme for GPC. This transaction combines both upsizing and downsizing elements and addresses the need to combine merchant and PPA financing schemes in one transaction.”

GPC was advised by Dentons while Erste Bank worked with CMS and SPG with DLA Piper and Ganado Advocates. DNV acted as technical advisor to the lenders.

About GoldenPeaks Capital:

GoldenPeaks Capital, is a company specializing in the construction and operation of solar systems and one of the largest photovoltaic system owners in Poland and Hungary. GoldenPeaks Capital will further increase the pace of shaping the industry of renewable energies in Eastern Europe by applying the seamless integration of all sectors of GPC, such as project development & engineering, financing & structuring, supply chain management, construction & commissioning, asset operations, and commercial & energy sales among others, ensuring an invaluable alignment of methodologies, ethics and goals.

About Erste Group and Erste Bank Hungary:

Erste Bank Hungary provides a full range of financial services to retail and corporate clients, ranking among the largest players in the Hungarian banking market. Erste Bank Hungary is a member of Erste Group, which is the leading financial services provider in Central and Eastern Europe with its 45,000 employees serving 16 million customers in 7 countries (Austria, Czechia, Slovakia, Romania, Hungary, Croatia, and Serbia), including through a network of nearly 1,950 branches.

About Capcora:

Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.