Portuguese renewable energy producer GreenVolt has obtained a loan worth 65.2 million euros in order to finance the acquisition of a 45 MW solar power plant in Romania, valued at 83 million euros.
UniCredit Bank Romania provided half of the total credit, while Raiffeisen Bank International and Raiffeisen Romania covered the rest. The loan has the maturity of 6.5 years.
Last month, GreenVolt announced that it has acquired a 45 MW solar power plant in Romania. The acquisition was made through GreenVolt’s subsidiaries V-Ridium Solar 45 and V-Ridium Renewables. The plant was owned by Samsung C&T Corporation, LSG Building Solutions and Green Source Consulting.
Part of the electricity produced in the park is sold on the free market, while the other part of revenues are obtained through the green certificates, which are valid until 2031. Most of these green certificates are contracted in euros with German E.ON.
GreenVolt expects to optimize the financial return of the plant through the establishment of a potential power purchase agreements (PPAs) and by optimizing its operational management.
GreenVolt expanded into the markets of Bulgaria, Romania and Italy through Polish renewables developer V-Ridium, which it acquired in July last year.
