The refinancing, which totals EUR 28.1 million, is split into financing in Euros, for EUR 9.7 million, and Czech crowns, for CZK 451 million (EUR 18.4 million). The facilities are being provided for a period of 7 years and 3 months, until 31 December 2029.
‘Through this refinancing agreement with UniCredit Bank, we have again secured long-term project refinancing for most of our Czech portfolio,’ said Clemens Wohlmuth, CFO of Photon Energy Group. ‘This step allows us to free up significant additional liquidity after the repayment of our EUR Bond 2017/2022 to finance the expansion of our portfolio.’
The Company’s proprietary portfolio of PV power plants has a total capacity of 91.9 MWp. An additional seven new PV projects are currently under construction in Romania, with a total capacity of 28.3 MWp. The Company intends to connect these plants to the grid before the end of the year. Including these Romanian projects, the Company has a total development pipeline of 892 MWp in its key CEE markets (Romania, Hungary and Poland) and Australia.
