Exim Banca Romaneasca issues state guarantees for renewable energy projects
Bucharest, August 2, 2023 – Exim Banca Romaneasca launched a new guarantee product in the name and on behalf of the Romanian state that facilitates access to finance for companies implementing investment projects in the field of renewable energy (wind, solar and geothermal energy, hydroelectric energy, biomass etc.).
The guarantee, which can cover up to 80% of the financing amount, is granted for new loans intended to cover investment expenses and/or working capital necessary for the implementation of the investment project in the field of renewable energy, including loans for projects financed from non-reimbursable funds.
” The expansion of the products’ portfolio offered within the mandate activity of the Romanian state by Exim Banca Romaneasca, by launching guarantees for renewable energy investment projects, supports the bank’s constant efforts to actively assist key sectors of the national economy. We are permanently connected to the economic developments and to our clients’ requirements and, at the same time, we consider adjusting our financial instruments to support investments that contribute to the materialization of ESG targets and to the value creation in the economy. Exim Banca Românească supports the financing of the sustainable future and I am confident in the capacity of local commercial banks to present viable clean energy projects that benefit from this type of state guarantees”, said Traian Halalai, Executive President of Exim Banca Romaneasca.
The eligible projects for State guarantees under this scheme may consist of:
- the realization of renewable electricity and green hydrogen production capacities;
- the realization of production capacities of batteries for electricity storage, photovoltaic cells and panels, photovoltaic equipment and/ or construction materials;
- the high-efficiency gas cogeneration and/or district heating;
- the construction of transport, distribution and storage capacities for electricity/heat and natural gas (including in combination with green hydrogen);
- the construction of compressed air power generating systems and liquefied gas turbines to balance power grids;
- the building capacities for processing household waste, which also includes the production of electricity with the help of waste derivatives.
The new guarantee scheme complies with the European Commission’s Communication on the application of Articles 87 and 88 of the EC Treaty regarding the State aid in the form of guarantees, intended to facilitate access to finance for project companies/Special Purpose Vehicles (SPVs), implementing investment projects designed to contribute to achieving the objectives of the European Green Deal, as a strategy for sustainable growth of the European economy and combating climate change, in line with the EU commitments, including the national objectives set out in the National Recovery and Resilience Plan,”Energy” component (PNRR-E).
Exim Banca Romaneasce is a 100% Romanian universal bank, ranked among top 10 largest credit institutions by assets. The bank offers its clients, individuals and corporate, a wide range of products and services, adapted to their needs. Independently of the components specific to a universal bank, Exim Banca Românească continues to act on the state guarantees and insurance segment, according to the mandate received from the Romanian state.