Major PV project developer secures funding for 800 MW

20.06.2025

Source: E & M powernews

The investor Sicore Real Assets is providing Enerparc AG with EUR 100 million in mixed capital. Enerparc is thus expanding clearly defined solar power plant portfolios in Germany.

The financial advisory boutique Capcore reports on a new 100 million euro mezzanine financing of around 30 solar parks of Enerparc in three German federal states. The financing was issued by Sicore Real Assets, an investor in infrastructure, renewables and real estate. Cacpore from Frankfurt am Main advised Enerparc on the financial aspects.

Mezzanine is a mixed financing of equity and debt capital. According to Alexander Kuhn, Managing Partner at Capcora, it is "a key instrument for implementing large-volume strategies as an independent power plant operator (IPP)".

Specifically, in this case, it will run via subordinated loans with a term of up to 22 years. It will be distributed among three independent holding companies of Enerparc. Together, these holding companies own three portfolios with a total of 800 MW, which are now to be expanded to this capacity. The three clusters are spread across around 30 PV parks in Rhineland-Palatinate, Schleswig-Holstein and Brandenburg. Some of the plants are EEG-subsidized, others are PPA-financed or, to a lesser extent, otherwise market-financed ground-mounted solar plants ("merchants").

Enerparc was legally advised by Simmons & Simmons from Frankfurt am Main. Sicore was assisted by Fieldfisher (Munich), Renerco Plan Consult (Munich) and Baker Tilly (Düsseldorf).

As recently as March, Enerparc concluded a similar investor agreement with the LBBW bank from Stuttgart, with 266 million euros for 400 MW of PV with a term of up to 24 years.

Author: Georg Eble