Tiranë, 23 October 2024: Raiffeisen Bank Albania Leads EUR 110 million Syndication Loan to finance Renewable Energy Project by Ayen AS Energji SHA
- EUR 110 million syndication loan secured to finance three hydropower plants in Albania
- Strengthening Albania’s renewable energy infrastructure through strategic financing.
Raiffeisen Bank is proud to announce the successful completion of a €110 million syndicated loan, the largest ever underwritten solely by local banks operating in Albania. Raiffeisen Bank led the syndication process, bringing together OTP Bank, Intesa SanPaolo Bank, and Tirana Bank to support this significant achievement.
The loan consists in refinancing an existing facility originally underwritten in Turkey, which was used for the construction and operation of three hydropower plants (HPPs): Peshqesh, Fang, and Dam & Ura e Fanit—operated by Ayen AS Energji SHA, utilizing the water flow from the Fani i Madh and Fani i Vogel rivers in Northern Albania. These are important plants in Albania’s renewable energy infrastructure with installed capacity of 110.56 MW. The refinancing will ensure the continued smooth operation of the HPPs, which contribute significantly to the country’s renewable energy output.
“Raiffeisen Bank is honored to have led this syndication, that confirms our leadership and expertise in the financial sector. We remain committed to facilitating large-scale projects that drive economic progress and offer tailored financial solutions to meet our clients' needs," said Elona Mullahi (Koçi), Corporate Board member.
Ayen AS Energji SHA commented, “This refinancing agreement not only secures our financial foundation but also aligns with our mission to champion a greener, more sustainable future for Albania. We are grateful for the support from Raiffeisen Bank Albania and other participating banks and look forward to other future collaborations.”
Raiffeisen Bank Albania stands as a cornerstone financial institution committed to fostering sustainable development and economic growth. Through innovative financial solutions and strategic partnerships, Raiffeisen Bank Albania aims to make substantial contributions to national and regional prosperity.
About Ayen AS Energji SHA
Founded on May 31, 2011 by Ayen Enerji Turkey that has been active in the Energy Sector in more than 30 years with a capacity of 500 MW, Ayen AS Energji SHA plays an instrumental role in Albania’s energy sector. The company holds a Build Operate Transfer (BOT) contract with the Albanian Ministry of Infrastructure and Energy, granting a 41-year concession to construct and operate the hydropower plants with a total installed capacity of 110.56 MW. This partnership underscores a long-term commitment to energy sustainability and operational excellence.