Kommunalkredit Austria AG, a leading financial institution specialising in infrastructure and renewable energy projects, provides the financing. Kommunalkredit Austria AG is recognised for its commitment to facilitating sustainable investments and supporting the transition to a low-carbon economy. Their collaboration with Econergy underscores Europe's shared vision of advancing renewable energy deployment.
- Loan Breakdown: The €28 million loan includes about €26 million earmarked for project construction costs and repayment of pre-existing owner loans and approximately €2 million allocated for VAT expenses.
- Interest: The loan will carry an annual interest rate based on the six-month EURIBOR, with a yearly margin of 4 – 5%. As this short-term loan is intended to cover the project's construction and initial operation phases, the company plans to refinance it with a long-term loan at a lower interest rate.
- Repayment schedule: Principal and interest payments will be made semi-annually starting 31 December 2025. A balloon payment will be made for any remaining principal at the final repayment date.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2024 issue
Dive into the latest renewable energy insights in the Autumn issue of Energy Global, out now! The issue starts with an insightful guest comment from Cristiano Spillati, Managing Director at Limes Renewable Energy where he discusses the need for European renewable energy suppliers to accelerate the rate of the energy transition. This is followed by a regional report from Cornwall Insights on the battery energy storage industry in Australia. This issue explores key topics including offshore wind subsea cables, offshore wind support vessels, digitalisation, wind turbine components, and more!
