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    The Raiffeisen Group finances the construction of a photovoltaic power plant in Satu Mare

    March 15, 2023 - Contify Banking News


      The Raiffeisen Group finances the construction of a photovoltaic power plant in Satu Mare. The electrical energy produced will be sold approximately 70 MW, approximately ?iutut - in the north-west of the country.

      Key Highlight:

      * The bank has 4930 employees in 291 units, 1130 ATM&MFM and 27,000 POSs.

      Original Press Release:

      March 14 -- Raiffeisen Bank issued the following news release:

      - The Raiffeisen group finances a company from the Shikun and Binui Energy group (Israel) with 40.5 million euros for the construction of a photovoltaic power plant in Satu Mare

      Raiffeisen Bank International and Raiffeisen Bank Romania granted a loan in the amount of 40.5 million euros to a company from the Shikun and Binui Energy group in Israel for the construction of a photovoltaic power plant, with a total installed capacity of approximately 70 MW, in the north- the west of the country.

      At the end of last year, Shikun and Binui Energy signed a contract with a European EPC contractor for the turnkey construction of the photovoltaic park, including design, civil, mechanical and electrical engineering, equipment procurement and construction. Design work and procurement of main equipment have already started, and commissioning is planned for the second quarter of next year. The electricity produced will be sold on the centralized electricity market in Romania or through PPA contracts to traders and/or electricity suppliers to be supplied to final consumers.

      Yuval Skornik, vice president of Business Development Shikun and Binui Energy said: "The financing contract we signed with the Raiffeisen group for the Satu Mare project marks a milestone for us, the transition to another level in the development of the company's global operations. After several years of intense development in the energy sector in Romania, our first project has reached the stage of being financed and we can start construction. Our cooperation with Raiffeisen Group - a leading international banking group - is the full confirmation of the confidence in the ability of Shikun and Binui Energy to develop and realize projects."

      Didi Paz, CEO of Shikun and Binui Energy, added that: "Shikun and Binui Energy recognize CEE and especially Romania as strategic markets, taking into account geopolitical and macroeconomic developments in the region. The Satu Mare project is for us the first major investment on the Romanian and European market and represents the first step in implementing the company's development strategy and the vast portfolio of high-quality projects we are implementing."

      Peter Marx, Director of Structured and Project Financing at Raiffeisen Bank International AG: "Investments in new energy infrastructure are of interest to all of us today, and the Satu Mare project represents a significant contribution to a climate-neutral future. We are delighted to have been able to support Shikun and Binui Energy in their first photovoltaic project in Romania, one of our core markets in the region. RBI is committed to promoting renewable energy that will facilitate the green energy transition in CEE together with our customers.”

      Silviu Toma, Director of Structured and Project Financing, Raiffeisen Bank Romania: "We are pleased to have granted the financing package for this renewable energy project. Sustainability is at the heart of our growth strategy and this transaction proves it. Raiffeisen Bank has solid expertise in structuring customized solutions for complex projects and we thank our partners, Shikun and Binui Energy, for the opportunity to demonstrate this once again."

      "The Satu Mare project is also an important milestone for us, showing that large photovoltaic plants can be developed through a "project finance" type model, with non-recourse financing and the sale of the energy produced in the market. We strongly believe that the upcoming projects will boost the production of renewable, clean energy and we as a bank are ready to support the successful development of new units at the highest production and quality standards.” said Catalin Cepi?ca, Senior Director in the Energy Department of Raiffeisen Bank Romania.

      About Shikun and Binui Energy

      Shikun and Binui Energy specializes in the development, construction, operation and maintenance of energy assets from renewable sources (based on various technologies such as: photovoltaic, solar thermal, pumped storage, agrivoltaic, battery storage) and based power plants of natural gas in Israel, Italy, California, Texas and Romania, with a total capacity of approximately 5.4 gigawatts.

      About Raiffeisen Bank Romania

      Raiffeisen Bank, a leading universal bank, has been active on the Romanian banking market for over 25 years, serving over 2.3 million clients, individuals and legal entities. The bank has 4930 employees in 291 units, 1130 ATM&MFMs and 27,000 POSs.

      Disclaimer: The Above Content is Auto-Translated

      Source: Raiffeisen Bank

      [Category: Banks, Procurement and Sales]


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