BUSINESS

Terra Muntenia lent EUR 5.4 M to build of a photovoltaic park



Banca Romaneasca financed Terra Muntenia Ltd, part of Valvis Holding, with EUR 5.4 million for construction of a photovoltaic park in Modelu, Calarasi, a press release informs. The funding is granded for a period of 10 years.
„We continue funding the renewable energy sector by providing Terra Muntenia Ltd, part of Valvis Holding, a loan worth EUR 5.4 million. Thus, we support our strategic objective established in 2013, to assist corporate clients in their investment approaches, as Banca Romaneasca is an active player in financing corporate clients and energy sector. We are sure that that this project developed by Valvis Holding will join our portfolio of successful projects in renewable energy currently funded by Banca Romaneasca”, said Cosmin Calin, Executive Director Corporate Unit Banca Romaneasca. The total investment amounts approximately EUR 8.9 million. The photovoltaic park has an installed capacity of 5 MW and its construction is underway.
Banca Romaneasca’s parteners in this transaction were the law firm CMS Cameron McKenna SCA, which provided legal assistance in negotiating and drafting finance documentation and TUV Hellas (TUV NORD) SA, which provided technical assistance.

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