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In Depth

Mono Vs Poly – An Introspective Simulation Study! – Part 3

01 October 2019
Mono Vs Poly – An Introspective Simulation Study! – Part 3

While the previous two parts of the article “Mono vs Poly – An introspective simulation study! – Part 1 & Part 2” introduced the types of crystalline technology, the need for this study, the methodology of study and detailed technical results of all climatic zones, this part would present a fina...

Solar Power Is India’s Green Future

01 October 2019
Solar Power Is India’s Green Future

In 2018, the solar power industry saw a 24% increase in its y-o-y capacity additions, while hydropower saw 2% and wind energy saw a 10% increase).

Ginlong Solis Powers Large Rooftop Solar Projects By SunSource

30 September 2019
Ginlong Solis Powers Large Rooftop Solar Projects By SunSource

India’s rooftop solar growth story is gathering great momentum in 2019. As per the recent government statistics, rooftop solar power installations in India saw an addition of a record 1,836 megawatt (MW). The total rooftop solar power installed capacity now stands at approximately 4,500 MW an 80% gr...

‘Elmex’ Has Installed More Than 3 Million Connectors At 200+ Sites Across India

30 September 2019
‘Elmex’ Has Installed More Than 3 Million Connectors At 200+ Sites Across India

Incremental Innovation & Unfaltering Customer Service are our Core Competencies.

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UPCOMING EVENTS

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SolarQuarter Tweets

TurbineTech, Smart Wind, Wind O&M, Offshore Wind, Storage + Wind Energy And More At 9th Edition Of IWEF - https://t.co/43FtKInVsP
Tuesday, 15 October 2019 10:13
Guwahati, North East India Here We Come! - https://t.co/WqsZwi8LWG
Saturday, 12 October 2019 11:13
REAnalytics India 2019 Participating Companies| 120+ Attendees Confirmed| Last Call - https://t.co/fRpr0L3Mzi
Thursday, 10 October 2019 06:59

7C Solarparken closes its Strategic Deal #1 comprising the acquisition of Amatec and the issue of a EUR 25 Mio Schuldschein loan

7C Solarparken AG announces tt has reached completion of its Strategic Deal #1 of the strategic plan 2017-2019, which targeted a partnership with a developer and alternative financing.

 

7C Solarparken has signed a purchase agreement regarding the development business of Amatec. Under the agreement, 7C Solarparken will take over a 55 MWp pipeline of project opportunities, of which 15 MWp projects in late stage development, a fully operational project of 750 kWp, a purchase option on three further operational parks and 3ha of PV Estate. The acquired business will still be run by the current managing director and his team of 5 employees. The acquisition of this pure-play German project development business creates a proprietary platform for new-build investment projects and brings a valuable network, as Amatec ranks as one of the most experienced players in the solar market with a track-record of 1.2 GWp.

Growth financing secured through a Schuldschein loan of EUR 25 Mio

In the context of the planned growth resulting from the acquisition of Amatec’s development business, 7C Solarparken AG has secured a Schuldschein loan with a volume of EUR 25 Mio. The Schuldschein loan will be used to redeem a specific project finance loan (ca. EUR 10 Mio), whilst the remaining amount of EUR 15 Mio will be used as project equity for portfolio growth. The Schuldschein is structured in two tranches with maturities of five and seven years, bearing mainly fixed interest rates. The average cost of debt to 7C Solarparken is slightly below 2.8%. The placement was arranged by Hypo Vorarlberg Bank AG and KBC Bank NV.

Steven De Proost, CEO of 7C Solarparken AG, comments: “The Schuldschein loan represents a substantial step for 7C Solarparken to secure the financial foundation to grow to 150 MWp in a first phase. The acquisition of Amatec as pure-play PV developer, in combination with a recurring deal flow already existent in 7C Solarparken, will bring the volume required to achieve our ambitions.”

Acquisition of Pinta Solarparks GmbH & Co KG

7C Solarparken also acquired a portfolio of three newly built rooftop projects totaling 2 MWp with further extension potential on the existing buildings. The installations, which were developed by ALTUS AG, are located nearby Salzwedel in Saxony Anhalt, and equipped with REC panels and Huawei inverters. The portfolio is estimated to generate annual EBITDA of EUR 175 T and has been project financed through a loan of EUR 1.8 Mio at a fixed rate of 1.8%. The independent investment bank MAYLAND AG acted as transaction adviser.

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