Renalfa IPP has secured a €315 million holdco financing for the uptake of green energy transition in central and eastern Europe. The financing has been secured from a consortium of lenders, including the European Bank for Reconstruction and Development (EBRD).
The financing will be utilised to support a €1.2 billion investment program for Renalfa’s portfolio. Following this, approximately 1.6 GW of generation assets and around 3.3 GWh of co-located battery energy storage systems will become operational across Bulgaria, Hungary, Romania, and North Macedonia, delivering around 2.3 TWh of green electricity annually.
EBRD led the EU-backed consortium. It lent €100 million on its own account, and mobilised an additional €100 million from commercial participants under an A/B loan structure. Furthermore, it also secured InvestEU’s first loss guarantee for the transaction.
The InvestEU programme supports sustainable investment, innovation, and job creation in the European Union and aims to trigger over €372 billion in additional investment between 2021 and 2027. Black Sea Trade and Development Bank, OTP Bank, Nova Ljubljanska Banka, UniCredit, and Kommunalkredit were other lenders in the consortium.
