Enery secures $534m in green financing for Romanian hybrid energy project [Yahoo! Finance]
ING Group, N.V. (ING)
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ing.com/investor-relations.htm
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Source: Yahoo! Finance
Enery has finalised €460m ($534m) in syndicated green project financing with a consortium of seven banking groups to fund the construction of the Ogrezeni hybrid energy facility in Giurgiu County, Romania. The project will integrate photovoltaic (PV) generation with battery energy storage and have an installed capacity of 761MW-peak/534MW-alternating current, along with more than a gigawatt-hour of battery storage. It aims to deliver enough renewable electricity for nearly 684,000 households annually while reducing carbon dioxide emissions by around 303,000t per year once operational. The funding agreement includes a revolving facility, term loan facilities, VAT and ancillary facilities, and an accordion feature valued at up to €79m for potential expansion of battery storage capacity. UniCredit acted as global and sustainability coordinator and bookrunner. Intesa Sanpaolo Group served as mandated lead arranger and bookrunner. ING Bank and its Romanian subsidiary also partic
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