VSB, an international project developer specializing in wind energy and photovoltaics, has expanded its existing syndicated loan agreement to EUR 160 million, with Commerzbank AG leading the initiative. The loan, with a term of approximately two and a half years, will be utilized for general corporate financing purposes.
The renewable energy market is experiencing steady growth, paralleled by VSB Group’s increasing investments. In response to this expansion across nine European countries, the existing agreement has not only been prolonged but also augmented by EUR 40 million, reaching a total of EUR 160 million. Commerzbank leads the banking syndicate, comprising longstanding financing partners at the group level and banks with pre-existing commitments at the project company level for wind and photovoltaic park construction.
Hartmut Lieder, CFO of VSB Group, expresses satisfaction with the syndicated loan, emphasizing its role in providing flexibility and planning certainty to support the company’s growth and internationalization efforts. He highlights the enduring and trusting relationship between VSB Group and Commerzbank AG, acknowledging the optimization of the financial framework for the forthcoming years.
Tim Koenemann, Head of the Center of Competence for Green Infrastructure Financing at Commerzbank in Hamburg, commends the successful financing collaboration with VSB Group. He underscores Commerzbank’s strategic commitment to driving the energy transition and revolutionizing the energy industry.
