Prime Capital concludes debt financing for 579 MW European solar portfolio

Prime Capital AG has completed junior debt financing for a European photovoltaic portfolio of the independent power producer MKM Invest Group, which was arranged with ENERPAZ.

The portfolio consists of photovoltaic projects in Germany, France, and Spain, with a total capacity of 579 MW. The EUR106 million (US$124.4 million) financing was provided by a fund managed by Prime Capital. ENERPARC has been supporting the fundraising on their behalf and will take over long-term asset management and O&M services for the portfolio.

The German projects make up the majority of the portfolio with a production capacity of 367 MW, followed by Spain with 108 MW and France with 104 MW.

As part of this transaction, MKM Invest Group issued five bonds as part of a private placement. The entire financing volume is secured by 94 photovoltaic projects - the portfolio mainly consists of operating systems as well as projects under construction or in development.

Prime Capital was advised by Simmons & Simmons (legal advice), as well as by PKF Wulf & Partner (financial due diligence) and by Near Future Financial Forecasting (model audit). Capcora acted as financial advisor and Luther as legal advisor for ENERPARC / MKM Invest Group.