BCR arranged senior credit facilities for Enery Power Holding to acquire an 81 MW renewables portfolio

Enery Power Holding, a key player on the CEE green electricity market, signed a senior term loan and revolving credit facilities agreement for the acquisition of the 81 megawatts renewable energy portfolio held by Jade Power Trust in Romania. The facility was arranged by BCR and Erste Group Bank AG, both acting as mandated lead arrangers and hedge providers, while BCR also acted as a facility, security agent and account bank.

Clifford Chance Badea acted as the the exclusive legal advisor of the lenders, with a team including Nadia Badea – partner, Andreea Sisman – counsel, Madalina Mailat and Gabriel Toma – senior associate, and Nicolae Grasu – lawyer.  

Schoenherr acted as Enery’s legal counsel in connection with this financing, with a team including Robert Bachner – partner, Adina Damaschin – counsel, Silviu Lazăr and Loredana Barbu – attorneys at law.

The multi-asset portfolio purchased by Enery Power Group has a total installed capacity of 81 megawatts, and includes two wind farms in Dobrogea region, two photovoltaic systems and two micro hydroelectric power plants. With this acquisition, Enery’s portfolio of operations in Romania grows to 273 megawatts and its total production increases to 375 gigawatt hours.

”Romania has the potential to become a major player in the clean energy technologies sector, and our aim is to provide relevant funding for renewable energy and energy efficiency projects. The financing provided to Enery Power Holding is a positive sign for our market. It shows that there is a growing appetite for green-energy financing under rapidly changing conditions that will increase the resilience of our energy industry to geopolitical challenges, reducing fossil fuels dependency and resources consumption in general,” stated Bogdan Cernescu, Managing Director, Head of Corporate Coverage BCR.

“The energy sector in Europe finds itself at a crossroads. At Erste Group, our primary aim has always been to support the economic wellbeing of our core markets across CEE. An integral part of this involves serving as a catalyst for the region’s energy transition, even in times of great market uncertainty,” said Radu Moldovan, Industry Lead Energy and Utilities at Erste Group. “We do so by supporting demonstrable change by providing financing to innovative and ambitious corporates like Enery, which through this latest acquisition continues to underscore its commitment to improving the perspectives for our region,” added Ladislav Tolmaci from Erste’s Corporate Finance Solutions team.

Richard König, CEO and Lukas Nemec, COO of Enery commented: “This transaction represents a new milestone which marks the diversification of our business into the onshore wind and hydro generation and further strengthens our position in Romania. Our portfolio in Romania now comprehends 11 power plants operating under 3 different technologies enabling us to offer a diversified clean energy mix in Romania. Erste and BCR acted as our financial partners supporting us in this achievement and displaying strong trust and good cooperation between our teams. Erste and BCR have demonstrated deep expertise in the Romanian energy sector, strong execution capabilities and proactivity enabling us to close the transaction in a timely manner. We look forward to continue working with Erste and BCR teams in Romania and we would like to congratulate our partners with this achievement!” Enery, founded in 2019, is focused to generate clean electricity at the lowest possible cost, make it affordable and accessible for industries and households, and help Europe regain its competitiveness as an industrial region.