Pelleting line
Successful fve refinancing
We would like to share with you an important achievement of our company, which is the successful refinancing of our portfolio of photovoltaic power plants in Czech Republic.
The company GEEN OBNOVITELNÉ ZDROJE s.r.o., belonging to the GEEN Holding group, successfully refinanced its portfolio of Czech photovoltaic power plants with a new loan provided by Komerční banka a.s. in the volume of CZK 230 million. Part of the loan in the amount of approximately CZK 107 million was paid to the IFIS investiční fond a.s. (IFIS), as payment of the balance of its receivables against the GEEN group. IFIS provided these funds in 2022 as part of the resolution of the GEEN group's debt exposure to Sberbank cz, a.s., which ended in insolvency. This complex solution consisted of the offsetting of receivables from Sberbank cz, a.s., and the partially of loan take-over that the IFIS fund from Sberbank cz, a.s. realized with permission from GEEN. Komerční banka provided GEEN additional funds for its activities.
Komerční banka takes over financing and the collateral associated with it. In terms of financial volume, with this step, Komerční banka has reached the position of our main banking partner in the territory of the Czech Republic.
The mentioned transaction confirms how extremely attractive our green energy portfolio is for banking investors. We are especially pleased by the fact that we continue to be successful in obtaining financing from major European banks and that, in addition to the Italian Intesa Sanpaolo and the Austrian Erste Group, the French Société Générale through Komerční banka a.s. joins the ranks of our financing banks.