Strategic Funding for Sarmasag 51.4 MW DC Photovoltaic Plant
UniCredit Bank Romania has successfully completed a project finance transaction, providing a total financing of EUR 39.3 million to Comcris Energy SRL, a subsidiary of Vienna-based renewable generation company Enery. The funding is designated for the development, construction, and operations of the Sarmasag 51.4 MW DC photovoltaic plant located in Salaj county, Romania.
Expansion of Enery’s Renewable Portfolio
Upon completion, the Sarmasag project will join Enery’s existing operational renewable energy portfolio in Romania, boasting a capacity of 117 MW. The financing is a crucial step towards achieving Enery’s strategic growth in the Romanian renewable energy sector.
Corporate Power Purchase Agreement with Ursus Breweries
The Sarmasag project is set to benefit from a long-term Corporate Power Purchase Agreement with Ursus Breweries, a significant commitment that further solidifies the project’s financial viability. Construction is underway, with the substation works already completed in November 2023.
Enery’s Growth Milestone in Romania
Cong Ta, Vice President M&A and Business Development at Enery, expressed enthusiasm, stating, “The financial close of 51.4 MW PV Project Sarmasag marks a new milestone in Enery’s growth story in Romania.” The completion of the project will nearly double Enery’s existing photovoltaic capacity in the country.
Legal Assistance from CMS Romania and Clifford Badea Chance Romania
UniCredit Bank received legal counsel from CMS Romania, covering English and Romanian law, while Enery was assisted by Clifford Badea Chance Romania as the Borrower’s Legal Counsel. The collaboration underscores the robust support and expertise behind this impactful renewable energy financing initiative.
This investment not only contributes to Romania’s renewable energy landscape but also highlights UniCredit Bank’s commitment to sustainable and innovative projects in the region.
Source：romania-insider.com
