UniCredit and Elicio complete EUR 53 million wind farm refinancing
26 October 2021
The transaction underlines the strong and successful cooperation between the two companies, as well as UniCredit's market-leading position in the structuring and financing of wind power projects in Serbia.
Commenting on the transaction, Nikola Vuletić, Chairman of the Management Board of UniCredit Serbia, said: "We are proud that Elicio once again recognised our bank as a reliable partner for the first refinancing of an operational wind farm carried out in Serbia. For us, this transaction represents a very important milestone, which once again confirms our leadership in the field of financing renewables in Central and Eastern Europe. This is a clear example of how banks and the renewables sector at large can contribute to improving overall energy security and the consumption of renewable energy in Serbia."
Alain Janssens, CEO of Elicio, added: "This refinancing represents an important milestone as it affirms the strong fundamentals of the project and the bankable regulatory environment for renewable energy production in Serbia. The transaction also speaks to the level of funding available in the Serbian market to locally finance well-structured projects and to do so with longer tenors. These are crucial conditions for realising Serbia's considerable ambitions in terms of increased contribution of wind energy - an area in which Elicio will continue to actively participate."
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