The Bank offers specialized loan for building a photovoltaic electric power station

In keeping with the modern tendency for increasing power generation from renewable power sources (RPS), UniCredit Bulbank offers to the companies in Bulgaria a new credit product – investment loan for building a photovoltaic solar power station. Offering specialized financial support the Bank aims to additionally encourage investors’ interest in renewable energy. An important advantage of the loan is that start-up companies are also eligible to apply.

Renewable energy has many environmental and business advantages. Preferential buy-up prices, long-term contracts for purchasing the generated electricity, power grids priority connection and opportunities for investment aid for renewable energy projects, make projects for solar energy power generation stations financially viable.

Financing of the projects by UniCredit Bulbank brings along additional benefit for the investors – long repayment period, great amount of bank financing in the investment project, flexible collateral and optimized repayment schedule adjusted to the investor company’s inflow patterns, preferential fees and interest rates when participating in a package program. A condition for obtaining the loan is for the photovoltaic system to be supplied and installed under a project prepared by Solarpro and with photovoltaic panels manufactured by that company.

Characteristics of the loan:

* Amount – up to 90% of the total project costs;

* Maximum period – up to 15 years;

* Grace period for the principal – utilization term plus 1 month;

* Repayment – diminishing installments with equal principal installments or annuity installments with frequency of repayment 1 or 3 months;

* Preferential levels of the fees and interests in a package program.

The development of this specialized product is yet another confirmation of the long-term commitment of UniCredit Bulbank to the environment, said Levon Hampartsumian – CEO and Chairman of the Management Board of UniCredit Bulbank.

The new credit product was developed in accordance with the policy of the Bank to support and invest in environmental projects. Recently the first stage of UCB’s National Green Program was completed during which the Bank invested free-of-charge more than BGN 100 thousand in planting 400 decares of new forests in Bulgaria.