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Bucharest, 17 november: ProCredit Bank Romania has successfully completed the financing of 3.15 million Euros for the nextE Group within an innovative project in the renewable energy market. With the finalization of this agreement, ProCredit Bank initiates the financing of EaaS (Energy as a Service) projects of particular importance for the business environment in Romania. This project has agreed upon a 25-year corporate onsite Power Purchase Agreement (PPA), in accordance with the contract already signed by nextE with RAAL.
The financing was granted for the construction of a 7.4 MWp photovoltaic plant in Bistrița-Năsăud county. The construction took place on the property of a production facility, which is also the main consumer of electricity within the project.
"nextE's financing is yet another proof of our commitment to SMEs investing in renewable energy. ProCredit's support is directed towards both prosumers or electricity producers and those implementing innovative, comprehensive, and tailored solutions, such as the Energy as a Service (EaaS) mechanism. In addition to delivering the generated electricity directly to the end-user, this mechanism provides SMEs not only with energy independence but also contributes to reducing carbon dioxide emissions," stated Stefan Manole, CEO of ProCredit Bank Romania.
"We are delighted with 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 exceeded our expectations and provided a solid platform for the expansion of our projects," added Nicolas Pleșea, CFO of nextE Holding/Renewable.
The partnership between ProCredit Bank and nextE represents a significant step in implementing a more sustainable energy agenda nationally. This allows the nextE Group to finance projects with up to 70% debt, thereby facilitating the expansion of photovoltaic capacity in the country.
The photovoltaic plant project in Bistrița-Năsăud, located on the property of a production facility, will operate on a rent and operate model. Of the estimated annual energy production of 7200 MWh, considering the factory's consumption profile, approximately 80% of the produced energy will be supplied for internal consumption, while the surplus energy will be injected into the national grid. A distinctive aspect of the project is the placement of photovoltaic panels, with some installed on the building's roof and the rest on the ground for the most efficient use of available space. The installed equipment comes from Tier 1 manufacturers, known for their reliability.
nextE is a company operating as an Independent Power Producer (IPP), currently focusing on expanding operations through the Energy as a Service (EaaS) mechanism. This approach provides consumer companies with energy independence and long-term stability without bearing the initial investment costs, performance and operational risks, and, most importantly, reduces electricity costs and the carbon footprint.
ProCredit Bank Romania
ProCredit Bank Romania is part of the development-oriented ProCredit Group, consisting of commercial banks focused on small and medium-sized enterprises (SMEs). ProCredit Holding AG, headquartered in Frankfurt am Main, Germany, is the parent company of the ProCredit Group. In addition to its operational focus on Southeast and East Europe, the ProCredit Group is also active in South America and Germany. The company's shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. Key shareholders of ProCredit Holding AG include strategic investors Zeitinger Invest and ProCredit Staff Invest (the investment vehicle for ProCredit staff), KfW, the Dutch company DOEN Participaties BV, and recently, the European Bank for Reconstruction and Development. As the group's parent company, under German Banking Law, ProCredit Holding AG is subject to consolidated supervision by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank.
