Erste provides financing for Enery’s 81-MW Romanian renewables buy

Austria’s Erste Group Bank AG (VIE:EBS) on Wednesday said it has arranged financing for compatriot Enery Power Holding’s acquisition of an 81-MW renewable energy portfolio in Romania.

Enery completed the purchase from Jade Power Trust in November 2022, with the portfolio boosting the company’s operating capacity in Romania to 273 MW. The acquired portfolio includes two wind farms in Dobrogea region, two photovoltaic systems and two micro hydroelectric power plants.

Enery said it signed a senior term loan and revolving credit facilities agreement for the acquisition. The financial services provider arranged the 11-year facility together with its Romanian subsidiary Banca Comerciala Romana SA (BCR). The two acted as mandated lead arrangers and hedge providers, while BCR also acted as a facility, security agent and account bank. The size of the financing was not disclosed.

“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,” commented Richard Koenig, chief executive, and Lukas Nemec, chief operating officer, at Enery.

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