SONNEN (EGFF) (EIB-20170859)

Countries
  • Germany
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 19, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
SONNEN HOLDING GMBH
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 28.47 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 25 million
Converted using 2018-12-19 exchange rate.
Loan Amount (USD)
$ 28.47 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 25 million
Converted using 2018-12-19 exchange rate.
Project Cost (USD)
$ 94.51 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 83 million
Converted using 2018-12-19 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Mar 12, 2019

Disclosed by Bank Jan 17, 2019


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Project Description

According to EIB website, the project aims to support the Sonnen's growth strategy by financing its EU-based R&D activities, capital expenditure (CapEx) in Industry 4.0 transformation and increased automation and equipment to deal with growing volumes, permanent increase in net working capital, and sales and marketing activities. By supporting the borrower's growth strategy in the sales and installations of a solar photovoltaic (PV) system and battery storage, the project supports the integration of renewable energy and thereby contributes to Climate Action. An estimated 18% of the project investment cost also supports Digitalisation in the EU.

Investment Description
  • European Investment Bank (EIB)
Private Actors

sonnen GmbH is engaged in the production and sale of plug-and-play battery storage systems. It also offers sonnenApp for smartphones or tablets to connect to sonnenBatterie via the Internet and to monitor, analyses, and control the supply and demand of household.

Contact Information

No contact information provided at the time of disclosure. 

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