GoldenPeaks Capital Secures Financing for Solar Projects in Hungary

Warsaw, June 6, 2024 - GoldenPeaks Capital (GPC) has successfully completed the financing of a solar PV portfolio in Hungary totaling 64.5 MWp. Erste Group and Erste Bank Hungary provided senior financing, while Schelcher Prince Gestion (SPG) managed the junior funding. Capcora acted as the exclusive financial advisor for mezzanine financing.

The solar projects, located in northeast Hungary, are under construction and will enter long-term Power Purchase Agreements (PPAs). The financing includes a unique structure with a releveraging mechanism once the PPAs are signed.

Daniel Tain, President of GPC, expressed delight at securing financing and welcoming new strategic lenders. Erste Group's Marcus Hinrich Fischer highlighted the flexibility of the financial structure, while Sándor Végh from Erste Bank Hungary and Alexis Sarrazin from SPG praised the collaborative effort and commitment to energy transitions.