Exim Banca Românească launched a new guarantee product in the name and on behalf of the Romanian state that facilitates access to financing for companies implementing investment projects in the field of renewable energy, such as wind, solar and geothermal energy, hydroelectric energy, biomass, bank announced on Wednesday.
According to the cited source, the guarantee can cover up to 80% of the financing value and is granted for new loans intended to cover investment expenses and/or the working capital necessary to implement the investment project in the field of renewable energy, including for loans intended to support projects financed from the funds non-refundable.
“Exim Banca Românească’s expansion of the portfolio of products offered under the mandate of the Romanian state, by launching guarantees for investment projects in renewable energy, supports the bank’s constant efforts to actively support the key sectors of the national economy. We are permanently connected to economic developments and the requirements of our customers and, at the same time, we consider adjusting our financial instruments to support investments that contribute to the materialization of ESG targets and the creation of value in the economy. Exim Banca Românească supports the financing of the sustainable future and I am confident in the banks’ ability local businesses to present viable projects in the field of clean energy, which would benefit from this type of state guarantees,” said Traian Hălălăi, executive president of Exim Banca Românească.
The projects eligible for the granting of state guarantees under this scheme can consist of: the realization of production capacities of electricity from renewable sources and of green hydrogen, the realization of production capacities of batteries for the storage of electricity, cells and photovoltaic panels, of photovoltaic equipment and/or construction materials, as well as in high-efficiency gas cogeneration and/or central heating.
Eligible projects may also consist of the construction of transport, distribution and storage capacities for electricity/thermal energy and natural gas (including in combination with green hydrogen) and the construction of systems for the production of electricity by the method of compressed air and turbines on liquefied gas, for balancing the electrical grids, as well as building household waste processing capacities, which also include the production of electricity with the help of waste derivatives.
“The new guarantee scheme complies with the provisions of the European Commission’s Communication on the application of Articles 87 and 88 of the EC Treaty regarding state aid in the form of guarantees, being intended to facilitate access to financing for project companies/Special Purpose Vehicles (SPVs), which implements investment projects intended to contribute to the achievement of the objectives of the European Green Pact, as a strategy for sustainable growth of the European economy and combating climate change, in accordance with EU commitments, including the national objectives established in the National Recovery and Resilience Plan, the Energy component (PNRR-E),” the press release states.
Exim Banca Românească is a 100% Romanian universal bank, in the top 10 largest credit institutions by assets. The bank offers its customers, natural and legal persons, a wide range of products and services, adapted to their needs. Regardless of the specific components of a universal bank, Exim Banca Românească continues to operate in the state guarantees and insurance segment, according to the mandate received from the Romanian state.