Sweden ยท Renewable energy
A developer had secured land, permits and a grid connection offer for a ground mounted solar site, but needed construction debt before the connection offer expired.
The project had a signed power purchase agreement with a regional offtaker and full planning consent, but the developer's own balance sheet could not carry the construction cost alone.
The grid connection offer had a hard expiry date, which put a firm limit on how long financing could take without losing the site's value.
We prepared a full financing pack covering the power purchase agreement, an independent yield assessment, and the engineering, procurement and construction contract terms.
Two infrastructure debt funds and one regional bank were approached in parallel. We pushed to keep the debt sizing based on contracted revenue rather than a conservative merchant price assumption, which increased the amount available.
EUR 9m of senior project debt was agreed against the contracted revenue, sized to cover construction with a reasonable contingency.
Financial close was reached before the grid connection offer expired, and construction started the following month.
Details are anonymised. Figures are rounded and identifying information is removed or altered to protect client confidentiality. Past transactions are not a guarantee of future outcomes.
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