Enery signs 214 million euros bank loan for renewable energy projects in Romania

Renewable energy provider Enery announces the successful signing of a 214.45 million euros bank loan facility with UniCredit Bank, Banca Comercială Română and Erste Group Bank AG to support the development and consolidation of its renewable energy projects in Romania.

The loan facility is allocated to refinancing the entire Romanian renewable energy portfolio, providing financial stability and operational efficiency, constructing a new 64.5 MW PV project and co-locating battery energy storage systems (BESS) in all operational and greenfield power plants to enhance grid stability and storage capabilities.

“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.

Raluca Popescu, Executive Vicepresident Corporates UniCredit Bank: “We are proud to be in the first row in Romania to unlock the potential of renewable energy towards a sustainable tomorrow through our financing solutions. At UniCredit, through our financing and advisory services and our strong coverage expertise, we are committed to supporting our clients with our international knowledge and talent. We are honored to build on our partnership with Enery and deliver this landmark renewable portfolio financing for our client and for the entire green energy sector in Romania.  We will continue to deliver additional financing to support sustainable energy solutions and the transition to clean energy of our clients”.

Daniel Sava, Advisory & Specialized Lending Director UniCredit Bank: “This landmark renewable portfolio financing delivers on our strong commitment for providing solutions to finance the transformation of the Romanian energy system, by putting our banks local and international knowledge and talents in the service of our clients, such as Enery. All across Romania and the markets where UniCredit Group has presence, our decisions and actions have strong ESG fundamentals that became part of our business model.”

Anca Ilin, Head of Project Finance Banca Comerciala Romana: At BCR, we have been a pioneer of renewable energy financing, and we invest constantly in supporting the transition to a Net Zero economy, making the financing of clean energy projects a priority in our corporate lending strategy. As one of the first collaborators of Enery’s investments in Romania, we are proud to continue to support their local development plans by this innovative portfolio financing, creating a platform for future growth and diversification.