Portugal-based renewable energy producer GreenVolt secured a 65.2 million euro syndicated loan to finance the acquisition of a 45 MWp solar park in Romania.
GreenVolt, through its subsidiaries V-Ridium Solar 45 and V-Ridium Renewables, has reached an agreement for the purchase of a 45 MWp solar photovoltaic park in May.
Part of the energy is sold on the market, with another component of regulated revenue, through green certificates, which are valid until 2031, informed the company. Most of these green certificates are contracted in euros with the German electric company E.ON.
GreenVolt expects to optimize the financial return of this asset through the establishment of a potential bilateral agreement for the sale of unregulated electricity (PPA), the optimisation of the operational management of the park, and the medium-term “repowering” potential of this asset.
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 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.