Enery Secures €214.45 Million Bank Loan for Romanian Renewable Portfolio and Expansion
Enery proudly announces the successful signing of a €214.45 million bank loan facility with UniCredit Bank, Banca Comercială Română and Erste Group Bank AG as Original Lenders and Mandated Lead Arrangers. BCR and UniCredit acted as Joint Coordinators and Bookrunners, while UniCredit was nominated as Documentation Agent and BCR was nominated as ESG Coordinator, Security and Facility Agent.
This landmark financing deal will support the development and consolidation of Enery’s renewable energy projects in Romania, marking a significant step in the company’s commitment to driving sustainable energy solutions in the region.
The loan facility is strategically 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.
From a legal point of view, the deal was facilitated with the support of the Romanian team of Schönherr on the Borrower side. Clifford Chance Badea advised on the lender side.
“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.
About Enery:
Enery is an independent renewable energy provider dedicated to supplying its customers with reliable, affordable, long-term green energy. With a diversified green fleet currently generating almost 700 GWh of clean electricity from 490 MW and powering 277,706 households, Enery is at the forefront of driving the Central and Eastern Europe (CEE) region’s transition to sustainable energy. The company’s ambitious plans include ongoing development projects with more than 8 GW in 11 countries. With its diverse and multidisciplinary team of 30 nationalities, Enery focuses on developing, constructing, and operating renewable energy projects while integrating environmental, social, and governance (ESG) factors into every aspect of its business operations.
About UniCredit Romania
UniCredit Bank is part of the UniCredit Group, a Pan-European Commercial Bank with a unique service offering in Italy, Germany, Central and Eastern Europe. In Romania, UniCredit Bank is one of the main financial institutions, offering high quality services and products for all categories of customers. UniCredit Bank aims to permanently keep the customer at the center of its activities, to be a partner that is easy to work with and to be an active part of the communities in which it operates. The group responds to a wide range of needs of its clients through a network of specialized partners: UniCredit Leasing Corporation, UniCredit Consumer Financing, UniCredit Services, UniCredit Insurance Broker.
About Banca Comercială Română
BCR offers a full range of financial products and services through a network of 20 business centres and 18 mobile offices dedicated to companies and 317 retail units located in most of the country’s cities with more than 10,000 inhabitants, where 71% of units are cashless. BCR customers have the largest national network of ATMs and multifunctional machines – almost 2,000 machines, and full banking services through Internet banking, Mobile banking, Phone-banking and E-commerce.
For more information on BCR products and services, please check: www.bcr.ro
About Erste Group Bank AG
Erste Group is the leading financial services provider in the eastern part of the EU. Its ca. 45,000 employees serve over 16 million customers in 1,899 branches in 7 countries (Austria, Czechia, Slovakia, Romania, Hungary, Croatia, and Serbia). For the first three quarters of 2024, Erste Group had 347 billion euros in total assets, posted a net profit of 2.52 billion euros, and had a common equity tier 1 ratio (pro forma) of 15.6%.
16.12.2024 / Editor, Andreea Dragan
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