Oct 26 (Renewables Now) – Vodasun Group increased its existing bridge financing line to 9 million euros ($ 10.44 million) as German solar developer prepares to capitalize on planned expansion rooftop photovoltaic systems in Germany.
This is the third increase in bridging financing which was increased to 7.5 million euros from 5.5 million euros a year ago, the company’s financial adviser Capcora said on Monday.
Vodasun needs more capital to finance its expansion as it sees a great opportunity in Germany’s plan to auction 2,300 MW of rooftop capacity in 2022.
The Munich-based company also sees growth potential in changes to the Renewable Energy Act, or EEG, in 2021 and limits the feed-in tariff for rooftop PV installations to systems up to 300 kWp. As a result of the changes, a new tender pot for roofing projects has been created and these projects will no longer compete with the larger ground-based solar power plants.
Vodasun plans, builds and operates photovoltaic systems, ranging from single-family homes to complex megawatt projects. The group consists of Vodasun Akquise und Vertriebs GmbH which develops and sells photovoltaic projects, Vodasun Construction which is in charge of the construction of the systems and Vodasun which is responsible for the commercial and technical operation of the power plants.
(1 EUR = 1,160 USD)