MKM Invest Group has raised €106 million ($125 million) through a private placement of five individual bonds, representing one of the largest mezzanine financings in Europe to date.
The instrument is cross-collateralized by 94 solar photovoltaic projects of mainly operational assets as well as projects under construction in Germany, Spain and France.
German projects comprise the majority of the portfolio with 367 megawatts of capacity, followed by Spain with 108 megawatts and France with 104 megawatts. The portfolio includes different feed-in tariff schemes in Germany and France, and power-purchase agreement-backed projects in Germany and Spain.
Financing was provided by accounts managed by Prime Capital.
“Through this transaction, our investor base gets access to cash flows from a large and diversified pool of attractive renewable energy assets with long-term visibility,” said Andreas Kalusche, CEO at Prime Capital. “This is the third transaction
