Erkner, November 19, 2020 - SUNfarming GmbH, a specialist in project planning, turnkey implementation and technical and commercial management of photovoltaic systems in Germany and abroad, was able to achieve 5.75 million euros in the first phase of the offer period on November 18, 2020 of the new 5.5% corporate bond 2020/2025 (ISIN: DE000A254UP9). The funds received are intended for additional project development and pre-financing exclusively for German solar projects.
The security was included in trading on the Open Market of Deutsche Börse AG (open market of the Frankfurt Stock Exchange) on November 16, 2020 as planned. Interested private and institutional investors can continue to subscribe for the bond through Umweltfinanz Wertpapierhandelshaus GmbH up to the full placement with a volume of 10 million euros. The emission will be accompanied by Lewisfield Deutschland GmbH as financial advisor.
Martin Tauschke, CEO of SUNfarming GmbH: “We are very happy about the trust that investors have in us. Especially in view of the current capital market environment, we are extremely satisfied with the fact that we were able to successfully place around 60% of the total volume in the first two months of the offer period. This opening result speaks very clearly for our company, our strategy and the undisputed growth market of renewable energies."
Despite the ongoing effects of the COVID-19 pandemic, SUNfarming expects 2020 to be a successful year with around 40 MWp of completed projects in Germany and abroad. For the first half of 2021, the project pipeline already comprises more than 30 MW. “We see ourselves well positioned for our further growth. We are particularly proud of the bid surcharges for over 13 MW in the tender by the Federal Network Agency. This shows that we are also successful in the market for larger freefield projects. Many other projects are already in intensive project development, ”explains Martin Tauschke.
(Photo, from left to right: Karsten Balzer, SUNfarming authorized signatory, Martin Tauschke, CEO of SUNfarming GmbH)
The loan agreement signed with mBank in September 2020 related to a portfolio of PV projects with a total capacity of over 22 MW and amounts to PLN 90.65 million. And the loan agreement signed in October 2020 for the 26 MW portfolio with ING Bank Śląski S.A. amounts to PLN 116 million. Both loans are for 15 years, which is also the period of the FIT payments granted. Furthermore, VAT could also be co-financed as a bridge loan.
The capacity of the individual projects from the SUNfarming Polska portfolio is less than 1 MW. Each project has a 15-year guarantee on the sale of energy in the auction system carried out by the Energy Regulatory Authority (URE) in 2016, 2017 and 2018. Almost all projects have already been completed and are already feeding into the public grid. SUNfarming Polska's portfolio includes projects that can be found across the country, most of the projects are located in Łódzkie, Wielkopolskie, Podlaskie and in the north-eastern part of Śląskie Voivodeship. In total, over 2 GW of photovoltaics were installed across Poland. The Polish market for ground-mounted photovoltaic power plants is mainly based on the auction system.
“We are very pleased that we have been able to conclude both loan agreements and that the Polish financial market has opened up for solar parks. The signing of both loan agreements is the culmination of the hard work of the entire team as well as the close collaboration with our experienced parent company. A big thank you also to the law firm Roedl & Partner from Gdansk and Luther Rechtsanwälte from Hamburg, who supported us in both loan transactions "- explains project manager of SUNfarming Polska, Anna Pilarczyk-Naprawski.
(Foto from left to right: Piotr Budzyniak, Martin Tauschke, Anna Pilarczyk, SUNfarming Polska)
These are open-space systems on landfills, roof-top systems and the first large agro-solar system (Food & Energy), through which sustainable solar energy for direct use of electricity in a neighoring biomethane plant and regional food can be produced together - on the same area. The order volume for the completed solar systems is approx. 10 million euros. As a result of the successful commissioning, the capacity installed by SUNfarming for the Schrum-Tauschke Group in Germany has increased to a total of 176 MWp. Around 700,000 built-in SUNfarming quality modules currently ensure annual green electricity production of around 176 million kilowatt hours, with which around 44,000 households (4,000 kWh p.a. per household) can be supplied in the energy equivalent. At the same time, with the current electricity mix the solar systems put into operation by SUNfarming in the above-mentioned period lead to annual CO2 savings of around 5,000 tons.
Martin Tauschke, Managing Director of SUNfarming GmbH: “With the solar systems we have implemented, our customers are focusing on sustainability and together we are making a valuable contribution to the energy transition and a regional, decentralized energy supply. Last but not least, the past challenging months, in which renewable energies have proven themselves in the current crisis, show that this is the right way to go, and also - with the increase in climate targets - have even now and more intensely moved into the positive focus of politics.
The Grobia facility is located near the town of Sierakow, which is known for its extensive leisure infrastructure and has numerous tourist resorts on the Jaroszewskie and Lutomskie lakes. The patronage city of Sierakow is the city of Schönberg in Germany.
The second investment is the Wolkowe A project (0.999 MW), which was built in the Mazowieckie Voivodeship in central Poland.
The Polish auction system for the award of contracts and a domestic policy based on renewable energies enable SUNfarming as a medium-sized company to support the expansion of renewable energies and to make profitable investments in Poland.
Photovoltaics is becoming more and more important among renewable energy sources in Poland, as it is the cheapest energy that can be obtained with existing technologies. In addition, the use of fallow land and soils with poor soil quality protects agricultural arable land.
Our PV open space systems offer many plants and animals urgently needed living space that has been lost due to intensively used agricultural areas. Our perennial wild herb meadows make an important contribution to promoting biodiversity.According to the Biodiversity Council, the extinction of pollinator insects threatens global food production with a value of 235 to 577 billion dollars per year. Out of 8 million insects, 1 million are threatened with extinction.
Extensive permanent green areas are created under the modules of our PV open-air systems, offering habitats for many animal and plant species that have already disappeared from intensively used agricultural areas. More insects mean more breeding birds. Here you can find food and e.g. Also sitting on the module rows and security fences. We do not fertilize or use any pesticides and there is also no machine tillage, factors that can negatively influence the fertility of the soil and the water balance. At the same time, the wild herb meadows promote humus formation, and the humus in turn binds carbon dioxide (CO2).
We work together with shepherds who like to use the fenced PV systems for their sheep. This summer there are 1200 sheep that keep the vegetation between the module rows short. The security fence offers protection from wolves. The module rows also offer weather protection in the rain or provide shade in summer.
“We are delighted that despite the restrictions associated with the corona pandemic, we are contributing to clean energy supplies in Poland with two additional megawatt PV systems. Despite the difficult communication, the professional and intensive cooperation of everyone involved made this possible", explains Martin Tauschke, Managing Director of SUNfarming GmbH and SUNfarming Polska sp.z.o.o..
The Polish auctioning system of procurement and an internal policy based on renewable energies allow SUNfarming as a medium-sized company to support the expansion of renewable energies and to make profitable investments in Poland. SUNfarming started the construction of the first 4 megawatt solar parks in Poland at the end of December 2018. By winning the tender, all PV parks benefit from a 15-year "contract for differences" with the Polish Energy Agency URE, which guarantees a fixed feed-in tariff for each kWh produced by paying the difference to the market price.
Photovoltaics is becoming increasingly important among renewable energy sources in Poland as it is the cheapest energy that can be obtained with existing technologies. In addition, the use of fallow land and soils with low soil quality spares agricultural arable land.