Grenevia secures PLN 850 million loan from Pekao, PKO BP, and BNP Paribas

Grenevia, a prominent player in Poland’s energy and industrial sectors, has finalized a significant loan agreement with a banking consortium composed of Pekao, PKO Bank Polski, and BNP Paribas BP. The deal, totaling PLN 850 million, includes two tranches: Tranche A of PLN 700 million, tied to sustainable development goals, and Tranche B of PLN 150 million, intended as a multi-purpose line.

The repayment period is set at three years from the agreement’s signing date, with an option for automatic extension for an additional two years.

According to Grenevia’s official statement, “The primary purpose of Tranche A is to fund investments aligned with the company’s Sustainable Transformation Strategy. This includes modernizing or developing projects, acquiring shares in other entities, and refinancing existing financial debt, including bond repayments. However, Tranche A cannot be used for mining operations tied to the current activities of the Famur Segment.” Tranche B, on the other hand, is geared toward general corporate needs for the Famur Segment, as well as refinancing existing credit obligations.

Grenevia Group, formerly known as Famur, is an investment company focused on four key business segments: large-scale photovoltaics through its Projekt Solartechnik Group (PST), battery systems for e-mobility and energy storage under Impact Clean Power Technology (ICPT), energy distribution solutions via Elgór+Hansen (E+H), and mining and wind power solutions under the Famur brand.

Grenevia has been listed on the Warsaw Stock Exchange since 2006 and is part of the mWIG40 index. In 2023, the company posted consolidated revenues of PLN 1.644 billion, underlining its pivotal role in the Polish market.

Source: Grenevia and ISBnews