German IPP SUNfarming secures US$53 million for Polish PV development

An operational solar plant in Poland, which installed almost 5GW of PV last year. Image: ReneSola Power.

German IPP SUNfarming Group has extended its relationship with investor HANSAINVEST Real Assets through a €50 million (US$53.8 million) mezzanine financing agreement to develop PV projects in Poland.

The financing will run through a specifically established company, SUNfarming Polska IPP GmbH & Co (SUN IPP), which groups the company’s Polish assets into one place. It will be used to develop 231 PV projects with a total output of 257MWp, with a first tranche set to refinance a 48MWp portfolio of projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The investment has a tenor of 20 years.

 “Poland is our second main market, and we are grateful for the trust in our work, which is underlined by the extension of the partnership. 2022 has shown the potential that lies dormant in Poland, and we are happy to take our partners with us on this journey,” said Martin Tauschke, managing director of SUNfarming Group and SUN IPP.

Poland installed 4.9GW of solar PV in 2022, the third-highest addition in Europe last year, according to SolarPower Europe’s end-of-year report. Despite significant growth, the country has faced difficulties regarding grid connections and capacity additions, as was discussed at the Solar Finance & Investment Europe conference in London last week. Panellists at the event said that these difficulties posed the most prominent barrier to achieving the potential of the market.

In 2019, SUNfarming and HANSAINVEST agreed on a US$25 million debt financing deal to develop projects in Germany.

 “We are pleased to be making our debut in the Polish renewable energy market with an existing partner who has also been active in the Polish market for years and already has a significant track record. We are convinced that Poland offers tremendous growth opportunities for us,” said Christoph Lüken, head of portfolio management infrastructure at HANSAINVEST Real Assets.

SUNfarming has overseen more than 650MW of PV output since beginning its operations, including a focus on emerging agrivoltaic technology.  

4 June 2024
London, UK
UK Solar Summit 2024 will look at the role solar currently plays in the energy mix, how this will change over the coming years and how this aligns with net-zero and other government targets. We will break down all these challenges and help build up solutions through discursive panels, motivational keynotes and case studies, with newly added interactive sessions to get you moving and meeting your peers, making the connections you need to boost your business.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

May 28, 2024
The Italian solar sector installed over 1.7GW of solar PV capacity in Q1 2024, marking a significant increase compared with the same period in 2023.
May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.
May 24, 2024
Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.
May 24, 2024
Indian solar installations increased by over 400% in the first quarter of 2024 to the highest quarterly deployment levels in its history.
May 23, 2024
The flurry of recent tariff changes for solar imports to the US is likely to make products from Southeast Asia less attractive to buyers, according to renewables analysis firm Clean Energy Associates (CEA).
May 22, 2024
Over 200MW of new solar PV capacity will be brought online in New Zealand following two new partnerships established in the last week.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece