Kommunalkredit Austria AG (Kommunalkredit), advised by Dentons Romania (Dentons), acted as Sole Mandated Lead Arranger in the EUR 37m acquisition financing of five solar PV plants in Romania with a total capacity of 36.2 MWp. The portfolio was acquired by Enery Development GmbH (Enery) and is eligible to receive Green Certificates (GCs). The acquisition facility has a 10-year tenor, as to coincide with the end of the Romanian GC regulatory regime.
John Weiland, Head of Banking, Kommunalkredit: “Romania is striving to rapidly expand its renewable energy sector. The good grid structure and the consensus to accelerate the transformation to green electricity make the country an interesting market.”
The issue of sustainability in accordance with ESG and SDG criteria is part of Kommunalkredit’s DNA; the bank is supporting high quality, dependable and sustainable energy supply through this financing.
Richard König, CEO and Lukas Nemec, COO of Enery commented: “We are very happy to see our business growing substantially in Romania. Together with the wind parks and hydro plants we have now a broad portfolio of clean energy assets to help customers in Romania transition to net zero via improving the mix of green electricity in their energy demand. This is already the second successful financing with Kommunalkredit in the young history of our company. Repeat business is a sign of strong trust and good cooperation between our teams. Kommunalkredit has proven to be innovative and with the ability to cross the finish line with the required speed while maintaining execution excellence.”
Enery, founded in 2019 and located in Vienna, 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.
Simona Marin, Partner, Head of Banking and Finance, Dentons: “We are delighted to have assisted Kommunalkredit on this important acquisition financing transaction, while also supporting Enery in expanding its footprint in Romania. At a time when renewable energy is at the forefront of the European agenda, our team is very excited to support clients in structuring and implementing green projects.” Dentons’s international banking team based in Bucharest regularly advises on ESG, green and other sustainability-linked loans in Romania, SEE and beyond.