The loan facility is strategically allocated to refinancing Enery’s existing renewable energy portfolio and funding new production capacities in Romania, providing financial stability and operational efficiency.
The funds will be used to build a new 64.5 MW PV project and co-locating battery energy storage systems (BESS) across all operational and greenfield power plants to enhance grid stability and storage capabilities.
“For BCR, financing energy projects has always been and remains a strategic priority. Our expertise in structuring complex energy financing solutions, combined with ongoing dialogue with key industry players and a deep understanding of market dynamics, allows us to genuinely support Romania’s green transition and energy security. We take pride in being a strong financial partner for Enery and to contribute through this transaction to the consolidation and expansion of their projects, while strengthening Romania’s role as a hub for energy and climate diversity in Central and Eastern Europe,” said Manuela Trisnevschi, Head of Energy and Utilities, Corporate Coverage, BCR.
The EUR 107.23 million financing marks the second major transaction between BCR, Erste Group Bank AG, and Enery, following the financing granted in February 2023. At that time, the two banks supported Enery in acquiring an 81 MW renewable energy portfolio owned by Jade Power Trust in Romania.
“This type of portfolio financing tailor made to Enery’s portfolio and plans for Romania, supports the company in becoming a full green IPP in Romania, while offering lenders a diversified asset base with an adequate mix of PPAs and batteries to hedge balancing, power and capture price risks. We are especially thankful to the lenders for structuring this financing, as traditional financing does not offer an intermediate solution between Project Financing and Corporate Financing for growing RES IPPs. The company can thus focus on delivering innovative renewable energy projects that drive long-term sustainability and economic value,” said Sebastian Staicu, VP Financing from Enery.
In the first 11 months of 2024, BCR’s financing for energy and energy infrastructure projects reached approximately EUR 520 million, with over EUR 300 million allocated to green energy projects.
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