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Growth Financing: Enertrag Secures Medium-Term Investment Loan

Dauerthal, Germany - Enertrag has concluded new financing amounting to EUR 120 million. The loan agreement signed with Commerzbank serves to support the company's growth.

The financing has a term of at least five years and, according to the company, which is one of the leading players in the renewable energies sector, also offers flexible extension and increase options in order to meet future growth requirements.

With this medium-term investment loan, Enertrag is securing the opportunity to further expand its own energy plants and project development. Enertrag pursues a holistic approach that encompasses the development, construction and operation of wind, PV and electrolysis plants as well as the corresponding grid infrastructure.

The company benefits from a stable foundation of its own energy plants with a capacity of more than 900 MW and a well-filled project pipeline. In the last six months alone, Enertrag has received approvals for new wind turbines with a capacity of almost 200 MW in Germany. Implementation is now set to begin. According to Enertrag, the development portfolio has grown to more than 18 GW in the last three years. This includes 12 GW of wind projects as well as 3 GW each of photovoltaic and green hydrogen projects.

“Securing this medium-term investment loan is a milestone for the ENERTRAG growth strategy. We are grateful for the support of our long-standing partners, especially Commerzbank, who significantly assist us in achieving our strategic objectives,“ comments Enertrag CFO Simon Hagedorn on the successful financing.

“Driving forward the energy transition and the transformation of the economy is our strategic task. We are convinced that this growth financing is a key instrument for ENERTRAG to achieve its set goals and provides the foundation and necessary flexibility for the challenges of project business,” says Tim Koenemann, Head of Commerzbank's Competence Center for Green Infrastructure Financing in Hamburg, welcoming the agreement. With a clear focus on sustainability and innovation, Enertrag is actively driving forward the energy transition and making a significant contribution to the transformation of the energy industry, Koenemann continued.

Source: IWR Online, 14 May 2024