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.
The facility, with a 11-year maturity, was arranged by Banca Comerciala Romana (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.
”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.
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 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.
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.