BSTDB backed renewable energy expansion in Bulgaria and Romania with EUR 40 million loan to Renalfa IPP, joining a EUR 315 million international financing to accelerate clean energy investments.
The BSTDB loan supported the development, hybridisation, and expansion of Renalfa IPP’s renewable energy assets in Bulgaria and Romania. The financing formed part of a broader EUR 315 million financing package secured from leading development finance institutions and commercial banks, including the European Bank for Reconstruction and Development (EBRD), Kommunalkredit Austria AG, OTP Hungary, NLB Slovenia, and UniCredit BulBank.
The funds will enable Renalfa IPP to upgrade its portfolio of renewable energy and battery energy storage systems (BESS), contributing to the decarbonisation of Bulgaria’s and Romania’s power systems. Combined these investments are expected to generate annually approximately 1,220 GWh of renewable energy which would translate into 580,000 tons of avoided CO2eq emissions. The project will help diversify the countries’ energy mix, enhance energy security, and accelerate their transition to low-carbon economies. The BSTDB financing will also help catalyse further private and public sector investments, generate employment during both the construction and operation phases, and create long-term value for local communities. The operation represents a major step forward in the region’s transition toward cleaner, more secure, and sustainable energy systems.
Renalfa IPP is a leading independent power producer based in Vienna, specialising in the development, construction, and operation of renewable energy projects across Central and Eastern Europe. As an established platform with strong business model capabilities, Renalfa IPP works across the full value chains from project origination to asset operation. The company focuses on solar, wind, and Battery Energy Storage Systems (BESS), supporting the region’s transition to a sustainable and low-carbon energy future. Renalfa IPP is a joint venture between Renalfa Solarpro Group and RGREEN INVEST.
BSTDB amount: EUR 40 million
Total Operation cost: EUR 315 million
Type of financing: Corporate loan (Holdco Financing)
Maturity: 7 years
