Romania's biggest electricity producer, Hidroelectrica, controlled by the state, took a seven-year loan worth RON 1.25 billion (EUR 250 million) from BRD - Societe Generale.

The company will use the money to buy or develop projects based on wind or solar energy. This is the biggest bilateral bank loan in Romania so far and the largest "green loan."

BRD didn't mention the interest rate. Hidroelectrica is currently bidding for the biggest photovoltaic (PV) park in Romania (131 MW), estimated at EUR 120 mln, after taking over a smaller (108 MW) PV park earlier this year.

Its five-year investment program includes RON 5.1 bln (over EUR 1 bln) for new wind and photovoltaic projects with a total capacity of 655 MW.

"Hidroelectrica takes very seriously the investment objectives it has assumed towards its shareholders through the company's strategy. […] We want to capitalize on all the opportunities and diversify production mix, but keeping in the center of our values the label of '100% Romanian green company'," said Bogdan Badea, president of Hidroelectrica.

In its turn, BRD highlighted its commitment for "a more sustainable world."

"We are honored to support Hidroelectrica's ambitious program by structuring the most important green loan granted so far in Romania. It is also proof of our great ambition to help build a more sustainable world," said Yves Lallemand, Deputy General Manager of BRD, the coordinator of Corporate Banking activities.

(Photo: Shutterstock)

andrei@romania-insider.com