Kawa Solar Holdings, Ltd. (the "Conergy Group"), one of the world's largest downstream solar companies, announced the closing of a $60 million bank guarantee facility for the company's rapidly growing solar projects business.

Arranged by Deutsche Bank and financed by Tennenbaum Capital Partners, LLC, the facility strengthens financial support across Conergy's power plants value chain: from project development, through the Engineering, Procurement and Construction (EPC) of new plants, to the Operations and Maintenance (O&M) of completed plants. To date, Conergy's EPC business has been responsible for solar power plants totaling 650MWp worldwide, and the O&M business for the management of 300MWp of assets for 200 customers.

Backed by majority shareholder Kawa Capital Management, Inc., Conergy's projects business expanded rapidly in the first half of 2014, with approximately three times as many plants under development, construction or management than in the same period of 2013. The new bank guarantees will enable the company to accelerate its participation in high growth markets, expanding project capacity supported by bank guarantees by up to 400 MWp.

Conergy is one of the world's largest downstream solar companies, specializing in the design, finance, build and operation of high performance solar systems for homes, businesses and utility-scale power. Founded in 1998, the company pioneered the expansion of solar power internationally, and today combines innovative technology and industry-leading engineering with access to capital. Headquartered in Hamburg, Germany, Conergy has a global sales network and established subsidiaries in 11 countries. The company is privately-held and majority-owned by Miami-based asset management firm Kawa Capital Management, Inc.