BRD Groupe Societe Generale granted Hidroelectrica a loan of 1.25 billion lei for the development of renewable energy projects, this being the largest green loan ever granted in Romania, according to a bank statement.
The financing, granted for a period of seven years, has as object the acquisition of participations and the development of direct investments in operational projects based on the energy produced by wind or solar.
“Hidroelectrica takes very seriously the investment objectives it has assumed towards shareholders through the company’s strategy. Romania has a huge potential for development in the area of renewables and Hidroelectrica has the will and can attract resources to act firmly in this direction. We want to exploit all the opportunities to diversify production, but keeping in the center of our values of a Romanian company labeled 100% green,” said Bogdan Badea, the president of the Hidroelectrica Directorate, quoted by Agerpres.
“We are honored to support the ambitious program of Hidroelectrica SA by structuring the most important green loan granted so far in Romania. It is also a 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.
The investment and development strategy of the company, aiming at the diversification in the field of renewable energy, the destination of the credit, as well as the reporting commitments of the company regarding the environmental aspects and the characteristics of the targeted projects, allowed the qualification of this credit as green.