German solar project developer SUNfarming GmbH has secured funds to refinance a portfolio of 43 solar projects across Poland with a combined capacity of 40 MWp.
The company has obtained a senior term loan of PLN 118 million (USD 30.0m/EUR 27.6m) from PKO Bank Polski, with German consulting firm Capcora serving as the exclusive financial adviser, a press statement said on Thursday.
Construction works on the solar farms, which have an average size of 1 MWp, are expected to be finalised by the end of 2024. The sites will benefit from a 15-year Contract for Difference (CfD) secured in the 2020 solar auction held by the local Energy Regulatory Office.
SUNfarming has a 140-MWp portfolio of operational and ready-to-build solar projects in Poland and the country represents its second-largest market.
In early 2023, the company arranged EUR 50 million (USD 54.3m) in debt financing to advance the construction of 231 solar parks with a combined capacity of 257 MWp in the country.
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