Enerparc secures EUR 257m loan to refinance solar portfolio

Solar park Bokel in Germany. Image by Enerparc AG.

July 27 (Renewables Now) - German solar developer Enerparc AG said today it has agreed a loan of EUR 257 million (USD 260.18m) to refinance a 315-MW portfolio of solar photovoltaic (PV) parks in the home market.

The loan was provided by Commerzbank AG (ETR:CBK) and Landesbank Baden-Wuerttemberg (LBBW) in equal parts.

The fresh capital will be used to redeem and refinance loans for a 315-MW portfolio which consists of existing operational plants of the group.

The Hamburg-based developer has installed over 3.6 GW of solar power worldwide and owns a portfolio of over 2.5 GW, according to its website. The company now seeks to expand its European portfolio to more than 5 GW by 2026.

"Transactions such as this are therefore particularly important in order to create the means to move a step closer to both our goal and that of the German government. This project also shows that the energy transition only works if all stakeholders work well together," said Enerparc's chief executive Christoph Koeppen.

(EUR 1 = USD 1.012)

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