Tiriac enters the energy business, securing a EUR 8mln loan for a photovoltaic park

Banca Romaneasca has offered financing of EUR 8mln to the company Blue Sand Investment SRL, part of Tiriac Holdings, for the development of a photovoltaic park in the commune of Paulesti, Prahova County. Financing is granted for a 8-year period. “The renewable energy sector is a strategic one for Banca Romaneasca. As of 2007, we developed a full logistics, which includes legal and technical advice, plus our network of specialized partners in assessing the renewable energy industry. So far, projects of almost 100MW have been evaluated for a potential financing. The solar park project in the commune of Paulesti, developed by Blue Sand, has met our standards and thus we considered opportune to grant a financing of EUR 8mln for a period 0f 8 years, thus continuing the strategic partnership developed in the past 7 years with Tiriac Group”, Cosmin Calin, corporate banking executive with Banca Romaneasca, said. The total investment value amounted to approximately EUR 13.6mln. The solar park has an installed power of 8MW and its construction has been completed.