GLAS plays key agency roles in €229 million financing

The GLAS team in Madrid acted as Facility Agent and Security Agent on the financing of Econergy’s Părău 2 renewable energy project in Romania, a transaction which secured total debt commitments of €229 million.

The financing was provided by a consortium of six lenders, including the European Bank for Reconstruction and Development, Black Sea Trade and Development Bank, Exim Banca Românească, NLB, OTP Bank and via subsidiary, Privredna banka Zagreb, Banca Comercială Intesa Sanpaolo România.

Parau 2 is a solar PV project with a capacity of approximately 342 MWp, combined with a battery energy storage system (BESS) of approximately 150 MW, currently under construction in Romania.

The project benefits from a Romanian state-supported contract-for-difference mechanism (CfD) covering 125MW of its power generation capacity. Parau 2 represents a significant contribution to Romania’s renewable energy expansion and wider decarbonisation objectives.

About Econergy

Econergy Group (TASE: ECNR) is a leading European IPP and active developer specialising in solar PV, wind, and energy storage projects across key European markets, including Romania, the UK, Italy, France, Germany, Poland, Spain, and Greece. With a robust project pipeline exceeding ~13GW – including 5.9GW (20GWh) of storage, Econergy is at the forefront of driving Europe’s renewable energy transition.

The company’s local teams provide a strategic advantage, ensuring close collaboration with regulatory entities and local communities. Econergy generates revenue across the entire value chain by selling electricity, earning development and operation fees, and selling projects at various stages of development, ensuring a diversified and sustainable income stream. For additional information please visit: https://www.econergytech.com/

About GLAS

Founded in 2011, GLAS is a leading independent global provider of debt administration services. As a non-lender and conflict-free firm, GLAS supports both private and public credit markets, distinguishing itself through its expertise, reliability and independence.

With over $920 billion of assets under administration, GLAS is headquartered in London and has an established international presence, with offices in the United States, France, Germany, Spain, Italy, the United Arab Emirates, Singapore, Hong Kong and Australia.

For further information, please contact: media@glas.agency.