SUNCATCHER secures construction bridge financing for a pair of solar PV projects with 111 MWp in Germany and Poland provided by Qualitas Energy

EQS-Media / 06.02.2025 / 11:45 CET/CEST

SUNCATCHER successfully secured construction bridge financing for two utility-scale solar PV projects with a combined capacity of 111 MW in Germany and Poland. The financing package was provided by Qualitas Energy’s debt fund, marking their debut investment into a senior facility on a fully merchant basis. Capcora acted as the financial advisor in this transaction.

The portfolio includes an 83 MWp ground-mounted solar PV project in Germany and a 28 MWp project in Poland. Both projects, which are already under construction, stand out in the market for their fully merchant nature, operating without long-term offtake contracts. Financing on such terms remains rare, particularly in Germany and Poland, underscoring the innovative structuring and execution of this transaction.

The initiator of the projects, SUNCATCHER, is a leading renewable energy company active exclusively in Germany and Poland, specialized in developing, constructing, and operating solar PV systems and BESS. The financing aligns with their strategic objective of accelerating the deployment of renewable energy infrastructure in these two key markets.

Qualitas Energy is a leading investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment. With its inaugural €500 million Credit strategy, designed to provide project finance debt for a diverse range of renewable energy platforms and projects, the firm aims to bridge the funding gap created by the rapid evolution of the sector, which has surpassed the capabilities of traditional debt providers.

“Securing this bridge financing marks a crucial step for our work in both countries. These projects are on track to become some of the largest unsubsidized solar projects in active commercialization. We’re grateful for the institutional support through this innovative financing structure designed specifically for our projects,” commented Jurek Meemken, Managing Director of SUNCATCHER.

“We are thrilled to support SUNCATCHER with our first senior facility investment, addressing the critical funding gap in the renewable energy sector. This transaction highlights our commitment to enabling renewable energy infrastructure across Europe, particularly for fully merchant projects, which are at the forefront of innovation,” said Severin Hiller and José María Arzac, Partners & Co-Heads of Credit, at Qualitas Energy.

“This financing reflects the growing confidence in renewable energy infrastructure in Europe, even for projects operating on a fully merchant basis. By structuring a tailored bridge-to-sale financing solution, we enabled SUNCATCHER to proceed with construction while maintaining flexibility for future commercialization strategies,” said Bernhard Hofmann, Director at Capcora.

Hogan Lovells acted as lenders legal advisor while SUNCATCHER was supported by Graf von Westphalen as legal advisor and Capcora as financial advisor.

About SUNCATCHER
Founded in 2018, the SUNCATCHER Group develops, installs and operates solar systems on roofs and open spaces in Germany and Poland. Due to its holistic approach, the Group can provide a broad service spectrum along the entire value chain, ranging from project development through the operation of solar facilities.
www.suncatcher.de

About Qualitas Energy
Qualitas Energy is a leading investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment. Since 2006, the Qualitas Energy team has managed investments of more than €12 billion in renewable energy worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, and Qualitas Energy V. Qualitas Energy’s existing portfolio currently holds 11 GW of operating and development energy assets across Spain, Germany, the UK, Italy, Poland, Chile, and the United States. This includes 7 GWp of solar PV assets, 4 GW of wind energy assets, 242 MW of concentrated solar power (CSP) assets, 60 MW of hydroelectric power assets, 6 MW of battery storage assets, and 1.8 TWh of biomethane assets. Since 2020, Qualitas Energy has produced sufficient energy to power 1.54 million homes and, since 2021, has successfully avoided emissions of 1.32 million metric tons of CO2 equivalent. The Qualitas Energy team is composed of more than 540 professionals across fifteen offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, Wroclaw, Santiago, Durham, Bristol, and Edinburgh.
www.qualitasenergy.com

About Capcora
Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.
www.capcora.com

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