Enery, an independent power producer in Central and Eastern Europe, reached financial close on a €460 million (~$535 million) syndicated green project financing. The funding will be used for the construction of its Ogrezeni hybrid project in Giurgiu County, Romania.
The project, which combines solar with battery energy storage systems, has an installed capacity of 761 MWp/534 MWac and over 1 GWh of battery storage capacity.
A consortium of banks comprising UniCredit, Intesa Sanpaolo Group, represented by Intesa Sanpaolo Bank Romania and Všeobecná úverová banka from Slovakia, ING Bank, and its Romanian subsidiary, Banca Transilvania, National Bank of Greece, Exim Banca Românească, and Alpha Bank, provided the funding to the company.
The transaction includes term loan facilities, a revolving facility, a VAT facility, and ancillary facilities, as well as an accordion feature of up to €79 million (~$93 million), allowing for a potential further increase of the project’s battery storage capacity.
Richard König, CEO, and Lukas Nemec, COO at Enery, commented: “Securing this financing is a major step in Enery’s growth journey and a clear vote of confidence in our ability to deliver complex, future-proof renewable energy infrastructure at scale. With our Sustainable Financing Framework now in place, we are strengthening the foundation for long-term development across the CEE region and accelerating the transition to a more resilient, low-carbon energy system.”
The financing was structured under Enery’s newly adopted Sustainable Financing Framework. Sustain LCM Finance served as debt syndication advisor on behalf of Enery. Schönherr acted as the borrower’s legal advisor, while Clifford Chance Badea served as the lender’s legal advisor.
Previously, the company had secured more than €250 million (~$297 million) in long-term portfolio project financing with Československá obchodní banka in February. Further, in October 2025, Enery acquired Project Lassie, a portfolio of 32 operational solar projects totaling 34.6 MW, across Slovakia, from ContourGlobal, an independent power producer.
Large-scale project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
