Dec. 4 – The European Investment Bank (EIB) and Enel Green Power International BV, a holding company by the Enel Green Power Group, have completed a financing of € 200 million to partially hedge investments for wind farms in Romania, in the regions of Banat and Dobrogea. The loan has a 15 year term and a grace period of up to 2.5 years; it has competitive rates compared to market benchmarks and is assisted by a parent company guarantee issued at the request of Enel Green Power SpA (Enel Green Power). The issue of the guarantee exempts Enel Green Power from the application of the governing transaction procedures, since it is a regular transaction in market or standard equivalent conditions. The terms of the warranty are in line with those generally recognized by Enel Green Power from leading banks for the similar amounts and durations. If joined to the financing agreements of the past three years, for a total of €600 million, it is clear that the EIB is confident in EGP’s investments in the industry. For the EIB, the operation fits into one of its priority areas: the financing of energy projects that help increase generation from renewable sources. Enel Green Power Group’s development strategy is based on cash flow funding, in combination with external sources from long-term, cost competitive, and reliable partners.
