Sunvest locks debt for 420-MW Dutch solar portfolio

Solar panels in the Netherlands. Image by Nuon (www.nuon.com).

September 19 (Renewables Now) - Dutch solar developer Sunvest BV has closed a EUR-25-million (USD 24.9m) debt financing deal that will enable it to support the construction and operation of 420 MW of solar parks in the Netherlands.

The company said last week it has obtained the funds from France's Sienna Private Credit, an AIFM portfolio management company formerly known as Acofi Gestion. Renewable energy financial advisor Green Giraffe was the Dutch developer’s exclusive financial counsel in the deal.

The transaction will provide Sunvest with resources to execute a portfolio of solar projects that it has been awarded through the Netherlands’ SDE subsidy programme. The bundle includes 16 photovoltaic (PV) schemes, planned to be installed over the next few years.

Sunvest was set up in 2018 by rooftop solar installer and technical services provider ProfiNRG. At present, the company has more than 1 GWp of projects under development in the Benelux, France and Germany.

(EUR 1.0 = USD 0.997)

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