- Encavis AG has acquired EUR 47.7 million for refinancing a portfolio of solar parks of 74 MWp capacity.
- The inflow of liquid funds from the transaction for Encavis amounts to EUR 33 million.
Encavis AG, a German solar and wind farm operator, has acquired EUR 47.7 million from Rabobank, a Dutch bank, towards refinancing a portfolio of solar parks of 74 MWp capacity in the Netherlands.
With a maturity date of June 30, 2039, the financing package also has a floating rate of EUR 24.7 million, a fixed rate facility of EUR 18.7 million and a debt service reserve facility of EUR 4.0 million.
The inflow of liquid funds from the transaction for Encavis amounts to EUR 33 million.
The proceeds will be used to refinance five solar parks that have been operating since 2021. All five plants receive feed-in tariffs under the Dutch incentive scheme SDE+ for about 15 years.
Encavis noted that the transaction “optimises the structures and costs of existing project financings and benefits of an enhanced leverage ratio as well as streamlined project structures for the ongoing operational management of the portfolio”.