A Romanian project company owned by Czech investment fund RSJ SF Czech Republic has secured a term loan facility from Czech lender PPF banka to support the development of a 72 MW battery energy storage system (BESS) in southern Romania, according to SeeNews.

The loan facility is structured in two tranches, covering the development costs of the Frasinet 1 project and costs related to its subsequent operational phase, PeliPartners said in a press release last week.

PPF banka’s financing of Frasinet 1 marks its third BESS project financed for RSJ PE SF Batteries, a joint platform of RSJ Investments and Second Foundation, according to a separate statement issued earlier this month by law firm Dentons, which advised PPF banka on the deal. The investment platform is developing a portfolio of battery energy storage assets across the EU.

Prague-headquartered RSJ Investments manages a large portfolio that includes investment into real estate, agriculture, engineering, information technology, bio-technologies, health foods, renewable energy sources, and life sciences.