Denton's teams in Warsaw have advised several financing institutions, including the EBRD, DNB Bank Polska, mBank, Bank Pekao and PZU, on the financing granted to Potęgowo Mashav for the extension of the Potęgowo wind farm.
The EBRD is extending a 40 million euros loan to Distributie Energie Electrica Romania, the electricity distribution subsidiary of Electrica Group to build a resilient distribution network with enhanced efficiency and ready to integrate more renewable projects.
The World Bank approved a 212 million US dollars financing package for a new project in Ukraine that will enhance the flexibility of the power system to help synchronise it with the European electricity grid.
Only for green energy, gas and hydrogen, Romania hopes to unlock 1,6 billion euros from the Recovery and Resilience Facility with projects that seem more like a list of wishes than a clear development plan, especially given the network restrictions and unclear regulations, experts say.
The EBRD has invested 42.5 million euros in a 500 million euros green Eurobond issue by real estate company CTP NV to finance the development and acquisition of sustainable industrial parks in Hungary, Poland, Romania, Serbia and Slovakia.
The European Commission has approved an investment of 216 million euro from the Cohesion Fund to modernise the thermal energy transmission system of Bucharest, one of the largest in the world, supplying over 1.2 million people with heat and hot water.
The European Investment Bank says the investments required to upgrade the Romanian energy sector and to place it on the energy transition path is significant. The financial effort must become a “joint-venture” between the public and private sector.
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