ALFI Green Fund has successfully closed a strategic transaction, establishing a joint partnership with Kraftfeld Energy GmbH in the Romanian company PVP Cygnus SRL. For ALFI Green Fund, this represents its largest investment to date, marking a significant milestone in its regional expansion.
Under the new ownership structure, ALFI Green Fund holds a 65% stake, while Kraftfeld Energy GmbH retains a 35% interest. This collaboration targets the development of a flagship renewable energy project in Romania, featuring a 126 MWp solar photovoltaic plant integrated with a 200 MWh battery energy storage system (BESS).
The partners have already secured project financing in the amount of €90 million, arranged through Raiffeisen Bank International AG (RBI) acting as the agent.
Construction of the power plant has already started, with full operational status expected by the beginning of 2027.
- Mr. Suvad Bajrić, ALFI Renewables d.o.o., manager of ALFI Green Fund, noted:
“We are proud to embark on this venture, which marks our most significant investment to date. By integrating massive solar capacity with substantial battery storage, we are delivering a reliable and sustainable energy solution. This project reflects the successful execution of our investment strategy, which we continue to implement across multiple markets. It also marks our strategic entry into the Romanian market, where we are already preparing additional investments for the coming period.
We are sincerely grateful to our banking partner for their support and vision. Together, we have developed a customized financing solution specifically tailored for this type of complex project, moving beyond traditional financing frameworks to ensure long-term success.
Finally, our heartfelt thanks go out to everyone who contributed to this milestone. I would like to specifically thank my coworkers from ALFI Team, the Kraftfeld Team, the dedicated team at Raiffeisen Bank International AG, and all advisors involved. In particular, we acknowledge CMS (Romania) team led by Diana Dona and overseen by Ana Radnev for advising the banks; the Vlăsceanu & Partners (Romania) team, led by Loredana Vlăsceanu, for advising Kraftfeld on the transaction and the borrower on the financing; and CERHA HEMPEL Ulčar & partnerji, led by partner Matjaž Ulčar, for advising ALFI on the transaction, as well as the borrower on the financing. Their combined expertise, hard work, and collaborative spirit made it possible to bring this ambitious vision to life.”
- Mr. Ben Salm-Reifferscheidt (Kraftfeld Energy GmbH), Director of PVP Cygnus SRL, added:
“This partnership marks a turning point for the project, bringing together the financial strength of ALFI Green Fund and the technical expertise of Kraftfeld Energy. Securing the backing of a major institution like RBI further validates the quality and scale of our joint vision in Romania.”
- Mag. Andreas Schirmer, Director Project & Structured Finance at Raiffeisen Bank International AG concluded:
“This transaction once again underscores the Raiffeisen Banking Group’s leading role in financing renewable energy projects in Romania and the CEE region. We are delighted to support the Alfi Green Fund and Kraftfeld Energy Partners in expanding their activities in Romania and advancing the green transition.”