FPM Projektmanagement launches largest photovoltaic roof-top project in Europe

DGAP-News: Capcora GmbH / Keyword (s): Financing
04/26/2021 / 10:00
The issuer is solely responsible for the content of this announcement.

Fellensiek Projektmanagement GmbH & Co. KG (“FPM Projektmanagement”) based in Jever has secured bridge financing for the construction of the largest photovoltaic system to date on the roof of Europe. The project, located in Germany, with a planned total capacity of 23 MWp will be built on the roofs of commercially used halls. On the revenue side, the project will benefit from a mix of feed-in tariff and corporate PPA. Capcora, a real estate advisory firm, acted as financial advisor to the transaction.

The largest roof project in Europe is currently being built in Saxony-Anhalt. FPM Projektmanagement is installing a large solar system on the roofs of a company group. The photovoltaic project, which will be built in two phases, has an area of ​​120,000 m², which corresponds to about 17 soccer fields. The solar park should be fully functional by the end of 2021 and after its construction will deliver more than 21 GWh of renewable energy annually. This is enough to supply up to 6,000 German households with electricity every year.

Part of the project was able to secure a long-term feed-in tariff in one of the last PV tenders from the Federal Network Agency (BNetzA). In addition, negotiations are currently underway with the site owner to purchase the electricity as part of a corporate PPA. The electricity purchased must be consumed both locally and at other Group locations. Further details cannot be disclosed at the moment due to the current status of the negotiations.

The construction financing was secured within the framework of an existing financing line for swing bridges, which was provided by a debt fund. The line, which was originally intended to finance roof-top projects under 750 kWp, was expanded to a double-digit million amount due to this special project.

“We are pleased to announce the start of construction on this lighthouse project after the financing has been secured. This project represents a milestone for the entire German PV roof industry and shows that large solar systems on industrial roofs can also be implemented in Germany,” says Torsten Fellensiek, Managing Partner of FPM Projektmanagement. After construction, the project will be transferred to the FPM portfolio and operated on a long-term basis.

“This project is groundbreaking – great projects can be achieved through an intelligent mix of long-term feed-in tariff, corporate PPA and innovative financing. The market for large-scale commercial roof-top PV is still in its infancy. We are convinced that this sector in Germany will gain enormous importance, “says Alexander Enrique Kuhn, Managing Partner at Capcora.

About FPM project management:
Fellensiek Projektmanagement GmbH & Co. KG has been based in Jever since 2012. With over 25 years of experience in project management, FPM develops, builds and operates projects in the fields of photovoltaics, wind power and real estate in Germany and other European countries. The entire value chain extends from the acquisition of suitable locations to the marketing of renewable electricity. In recent years FPM has built up its own portfolio of photovoltaic systems on the roof. Since 2018, the company has also been developing and supporting social, cultural and ecological projects as part of the non-profit company “de Mood”.

About Capcora:
Capcora is a consulting company specializing in real estate. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate and medium-sized companies. The focus is in particular on mezzanine financing for the recapitalization of the liquidity tied up in business assets as well as on bridge financing for developments and construction measures in the field of renewable energies (photovoltaics, onshore wind) and real estate via alternative sources of finance. In addition, Capcora acts as a transaction manager for M&A processes (buy and sell side advice).

04/26/2021 Distribution of a company news, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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