Portugal-based renewable energy producer GreenVolt has received a 65.2 million euro ($69.7 million) syndicated loan to finance the acquisition of a 45 MWp solar park in Romania, the lenders announced on Thursday.
The club loan facility was granted to GreenVolt on a 6.5 years period, the three lenders said in a press release.
UniCredit Bank Romania provided half of the total credit, while Raiffeisen Bank International and Raiffeisen Romania covered the rest.
GreenVolt announced that it is acquiring the photovoltaic park valued at 83 million euro through its V-Ridium Solar 45 subsidiary in mid-May.
Part of the energy produced in the park is sold on the market, while another component of regular revenue are green certificates, which are valid until 2031. Most of these green certificates are contracted in euro with the German electric company EON, GreenVolt also said at the time.
GreenVolt is a Lisbon-headquartered company, owned by Portuguese industrial group Altri, which is active primarily in the field of electricity production from forest biomass.
GreenVolt expanded in the Bulgarian, Polish, Romanian, and Italian markets through V-Ridium, a Polish renewables developer, which it bought in July. The Polish company focuses on Poland, Greece, Italy, and France, while actively exploring Bulgaria and Romania.
In March, GreenVolt said that it does not expect the war in Ukraine to affect the operations of V-Ridium in Romania or Poland.
(1 euro = $1.0687)
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