Renalfa receives €315 million for renewable energy – some of the projects are in Bulgaria

Vienna-based Renalfa IPP has received €315 million from a consortium of lenders, including the European Bank for Reconstruction and Development (EBRD), to accelerate the transition to green energy in Central and Eastern Europe.

The financing will support the company's €1.2 billion investment program, which is expected to include 1.6 GW of production assets and approximately 3.3 GWh of co-located battery energy storage systems (BESS) that will be operational in Bulgaria, Hungary, Romania, and North Macedonia.

The EBRD adds that as part of the deal with the company and within the InvestEU Advisory Hub, the bank will support the development of a skills training program related to BESS for both current staff and future specialists in the region. Renalfa will also partner with local universities to conduct an information campaign aimed at attracting women to careers in the energy sector.

The EBRD itself will provide a €100 million loan. Other lenders in the consortium are the Black Sea Trade and Development Bank (BSTDB), Hungary's OTP Bank (the parent company of DSK Bank), Slovenia's Nova Ljubljanska Banka (NLB), Italy's UniCredit (the parent company of UniCredit Bulbank) and Austria's Kommunalkredit.

Renalfa IPP is a joint venture between Renalfa Solarpro Group and French infrastructure fund manager RGREEN INVEST. It is a clean energy and electric mobility investment group focusing on renewable energy generation assets.

Translated with DeepL.