ProCredit Bank lends to nextE group for construction of PV plant

Alina Oprea
ProCredit Bank has granted a loan of €3.15 million to the nextE group for the construction of a photovoltaic plant. With the completion of this agreement, ProCredit Bank becomes the first bank in Romania to finance a PPA (Power Purchase Agreement) for 25 years, of the corporate onsite type, according to the contract that nextE has already signed with RAAL. The financing was granted for the construction of a photovoltaic plant with an installed power of 7.4 MWp in Bistrița-Năsăud County.

The construction was carried out on the property of a production facility, which is also the main consumer of electricity within the project.

The project of the photovoltaic plant from Bistrita-Năsăud will operate on the rent-and-operate model. From the generated energy production, estimated at 7,200 MWh/year, and taking into account the plant's consumption profile, approximately 80% of the energy produced will be provided for domestic consumption, while the surplus energy will be injected into the national grid.

A special aspect of the project is the location of the photovoltaic panels, so that some were installed on the roof of the building, and the rest on the ground, for the most efficient use of the available space. The installed equipment comes from Tier 1 manufacturers, renowned for their reliability.

"NextE's funding is yet another proof of our commitment to SMEs investing in renewable energy. ProCredit Bank's support goes both to prosumers and electricity producers, as well as to those who implement innovative, complete, and customized solutions, such as the Energy as a Service (EaaS) mechanism. Also, in addition to the fact that this mechanism brings with it the advantage of directly delivering the electricity generated to the end user, it offers SMEs not only energy independence but also contributes to the reduction of carbon dioxide emissions", stated Ștefan Manole, general manager of ProCredit Bank Romania.

The nextE Group can finance projects with up to 70% of the debt, thus facilitating the expansion of photovoltaic capacity in the country.

"We are excited about our collaboration with ProCredit Bank and how this partnership has evolved in such a short time. The flexibility and speed with which they managed this green investment loan agreement exceeded our expectations and provided us with a solid platform for the expansion of our projects", added Nicolas Pleșea, CFO of nextE Holding/Renewable.

nextE is an Independent Power Producer (IPP) company, currently focusing on developing operations through the Energy as a Service (EaaS) mechanism. This approach provides consumer companies with energy independence and long-term stability without incurring the initial investment costs, performance, and operational risks, but above all, reduces electricity costs and CO2 footprint.

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Green Forum  |  15 July, 2024 at 11:00 AM
Green Forum  |  15 July, 2024 at 10:00 AM