Green Forum • 16 December, 2024 at 8:14 AM
Enery has successfully secured a €214.45 million bank loan facility from UniCredit Bank, Banca Comercială Română (BCR), and Erste Group Bank AG to drive the development and consolidation of its renewable energy projects in Romania.
The loan will be used to refinance Enery's entire Romanian renewable energy portfolio, ensuring financial stability and operational efficiency. Additionally, the facility will fund the construction of a 64.5 MW photovoltaic (PV) project and the integration of battery energy storage systems (BESS) across operational and greenfield power plants, enhancing grid stability and storage capabilities.
“This tailored portfolio financing supports our mission to become a fully green independent power producer (IPP) in Romania. It offers lenders a diversified asset base with a balanced mix of power purchase agreements (PPAs) and battery systems, mitigating risks related to balancing, power, and capture prices. We are particularly grateful to the lenders for structuring an innovative solution that bridges the gap between project and corporate financing for growing renewable energy IPPs. This partnership enables Enery to focus on delivering groundbreaking renewable energy projects that foster sustainability and economic value”, commented Sebastian Staicu, VP of Financing at Enery.