First junior debt financing provided for four solar projects in Japan
The Berenberg Green Energy Junior Debt Fund I, established and managed by the Hamburg-based private bank Berenberg, is a new partner of the solar specialist hep in junior debt financing of a Japanese solar park portfolio. Both parties were able to agree on a financing framework of 10 million euros.
The first projects for which the Berenberg Fund is providing interim financing have already started. This concerns four photovoltaic systems in Japan with a total installed capacity of approx. 6 MWp. The plants are located in the Kansai region around Osaka, Japan's second largest city. hep energy, which is responsible for the construction and operation of solar parks in the hep group, has started with the construction of the plants. The first of the four solar parks is expected to be connected to the Japanese grid in January 2018.
Already in 2008, hep was able to realize the first successful project development of a solar project in Germany. This was followed by various other activities in Great Britain, the USA, Japan and Canada. In Japan in particular, hep has considerable experience with 14 successfully completed project developments to date.
Christian Hamann, shareholder of hep: "Japan is currently one of the most attractive investment markets for solar energy. We have secured an extensive project pipeline and are looking forward to working with Berenberg, an experienced and renowned investment and financing partner in the renewable energy sector".
The partnership demonstrates the confidence of banks such as Berenberg Bank in the future prospects of high-quality solar investments. The photovoltaic asset class has meanwhile established itself as a constant in the capital market. The demand for institutional addresses for photovoltaic projects has risen sharply in recent years due to the high predictability of opportunities and risks", says Thorsten Eitle, founder and managing director of hep.